Auto insurance deductible

[Frugal]

I don't know, but if I were you, I might consider looking around for quotes. We pay under $45/month for both of us. Neither of us has accidents or tickets, however. We have clean driving records. Have a 2007 and 1991 car.

Personally, I used to work in insurance at one time, and I know that people tend to try to raise the deductible to save money. Sometimes, though, when they come in after having an accident, they really wish they had not raised the deductible so high. I have not personally raised my deductible in a long time. We are good drivers, but you never know when someone else might hit you and even IF they are at fault, you could be on the hook with your deductible coming into play in some cases.

Better safe than sorry.

[zerodeductible]

To offset the risk of having to pay a high deductible - check out Zero Deductible. We offer deductible reimbursement plans that would pay your entire deductible amount in case of a covered claim. Pricing varies but a typical $1000 deductible plan would cost you approximately $80 per year.

[danieldroga]

Thanks for all the advice. I decided to go to 1K on comprehensive and collision. When my last accident is 3 yrs old I'm definitely going to shop around.

That's good enough though there is a better option to choose. Good luck on your future plans and don't hesitate to ask questions here.

[alamuomo]

Money asving expert Let's make this analysis. If you move to the $1008/yr premium and

X
Let's make this analysis. If you move to the $1008/yr premium and there occurs no accident for a year. You'll save $236 on your premium. But if there is an accident, your total cost is $264 higher than that of your present premium. This mean that, if you drive for 2 years without an accident you'll save $236 X 2, which equals $472, which is higher than the difference in total cost as stated above. Remember that the time difference between the two accidents you've had is 5 years. So I think you can save money moving to the $1008/yr premium.