Yeah, that's a solid strategy if you're generally careful. Just make sure you've got enough tucked away to cover that higher deductible if something unexpected happens...seen plenty of folks caught off guard by that one. But sounds like you're thinking it through pretty well.
That's definitely a valid point, but honestly, even being careful doesn't always protect you from life's curveballs. A friend of mine went with a high deductible to save money, thinking he was cautious enough...then his parked car got sideswiped overnight. He was stuck paying way more out of pocket than he'd budgeted for. Personally, I'd rather pay a bit more monthly and sleep easier knowing an unexpected expense won't totally derail my finances. Just something else to consider.
That's a fair perspective, but it's also important to remember that insurance isn't a one-size-fits-all deal. I've seen plenty of cases like your friend's—people trying to save a few bucks upfront and then getting blindsided by something totally unpredictable. A couple years ago, I had a client who opted for minimal coverage because he was young, healthy, and figured he wouldn't need it. Then he slipped on ice and broke his ankle badly enough to need surgery. Suddenly, that low-cost plan wasn't looking so smart, and he ended up paying thousands out of pocket.
On the flip side, I've also seen folks overpay for coverage they never end up using. It's really about finding that balance—figuring out what risks you're comfortable taking and what you absolutely can't afford to cover yourself. Saving money is great, but not if it leaves you financially vulnerable when life inevitably throws you a curveball.
Yeah, I get what you're saying—it's definitely a balancing act. But honestly, when you're young and broke, it's hard not to roll the dice a bit. Last year, my roommate went with bare-minimum car insurance because he figured he'd never need it. Then someone rear-ended him at a stoplight, and suddenly he was stuck paying for repairs out of pocket. It sucked. Still, I can't help but wonder if paying extra every month for coverage you might never use is really worth it... guess it depends how unlucky you feel.
"Still, I can't help but wonder if paying extra every month for coverage you might never use is really worth it... guess it depends how unlucky you feel."
Yeah, I totally get where you're coming from—insurance can feel like throwing money into a black hole sometimes, especially when you're young and strapped for cash. But honestly, it's less about luck and more about managing risk. I've seen way too many cases where people underestimate the potential costs of an accident or unexpected event.
Your roommate's situation is a perfect example. Even though he wasn't at fault, he still ended up paying out of pocket because his coverage was minimal. A lot of people don't realize that bare-minimum insurance usually only covers liability—meaning it pays for damage you cause to someone else's property or injuries to others, but not your own car repairs or medical bills.
Here's the thing: accidents aren't always predictable or avoidable. You could be the safest driver in the world and still get rear-ended at a stoplight (like your roommate did). And if you're already tight on money, having to suddenly come up with hundreds or even thousands of dollars for repairs can be devastating financially.
If you're trying to save money without taking huge risks, I'd suggest looking into a few options:
1. Shop around regularly—rates vary widely between companies, so comparing quotes every year or two can save you quite a bit.
2. Consider raising your deductible slightly—this lowers your monthly premium significantly, but make sure it's still an amount you could realistically afford if something happens.
3. Check for discounts—many insurers offer reduced rates for good grades (if you're a student), safe driving records, or bundling policies.
I know it feels frustrating paying for something you might never use, but think of insurance as financial protection rather than just another monthly bill. It's there to keep one bad day from turning into months (or even years) of financial stress.
