Vice President/Agent, Best Rates Insurance Inc, Kalispell Montana
Many think that having a higher deductible example $1000 on comprehensive and $1000 on collision is better and keeps your rates lower However not many people have $1000 they can afford to pay for the repair before the insurance company pays the rest of the damage after the 1st $1000 . So that windshield claim the insurance company will never end up paying for as it is rare that a windshield would cost $1000
Now on the flipside I recommend $100 on comprehensive and $500 on collision In Many cases it on average is $10 more a month for your insurance rates but it is much easier to come up with $100 or $500 for the deductible in the event of a loss and many repair shops will work with you in payments on a lower deductible depending on your area.
I would talk to your local agent and find out just how much of a difference it is with the lower deductible the monthly might be higher but is sure would be easier then coming up with a bigger chunk of money in the event of a claim
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
Insurance is designed to share those financial responsibilities that are beyond your ability to handle. Your comprehensive and collision deductible should reflect your ability to handle some losses on your own. Don’t underestimate your ability to pay for a scratch or chip in your paint. In the long run it might cost you less to carry the higher deductibles
That is a great question! The goal of finding the right deductible is the balance of policy cost vs. what you could afford to pay, if you needed to. Often you will be advised that taking a high deductible will save you over the long run. That is true, unless you have a need to file a claim. If you cannot come up with the money for the deductible, your car won't get fixed, and then what did you save? Try to look at what the most is that you could come up with if needed, and then look at a policy that prices best for you at or below, that amount. Thanks for asking!
Owner, Best Health And Car Insurance Rates - Instant Online Quotes, US
What is the best deductible for your car insurance? It depends on many factors, but typically, a $500 deductible is the most cost-effective, unless you have multiple accidents and/or claims. This question, ironically, is asked just about every day by customers. A broker will help you determine the best deductible with expert guidance.
LIVE answer provided by: Ed Harris - Premier car insurance broker for 33 years and owner of several top-rated consumer auto insurance websites.
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Now on the flipside I recommend $100 on comprehensive and $500 on collision In Many cases it on average is $10 more a month for your insurance rates but it is much easier to come up with $100 or $500 for the deductible in the event of a loss and many repair shops will work with you in payments on a lower deductible depending on your area.
I would talk to your local agent and find out just how much of a difference it is with the lower deductible the monthly might be higher but is sure would be easier then coming up with a bigger chunk of money in the event of a claim
LIVE answer provided by: Ed Harris - Premier car insurance broker for 33 years and owner of several top-rated consumer auto insurance websites.