2007-01-26 09:04:39 · 36 answers · asked by iwonder 4 in Business & Finance ➔ Insurance
Most of the answers are missing something.
A higher deductible will save you money in your monthly premium.
But if you have multiple claims in a year, it won't save you money overall.
Personally, I go for the $1000 deductible.
2007-01-27 08:53:34 · answer #1 · answered by Quixotic 3 · 0⤊ 0⤋
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RE True or false? I can save money on car insurance by choosing a higher deductible?
#EANF#
2014-09-29 19:15:00 · answer #2 · answered by Anonymous · 0⤊ 0⤋
True!
If you choose a higher deductible, the insurance company does not have to pay as much if you get into an accident, since you will be covering more with your deductible. Therefore, your policy premium would be less since they don't expect to cover as much.
$3000 repairs - $2500 insurance pays, $500 you pay
$3000 repairs - $2000 insurance pays, $1000 you pay
2007-01-26 09:17:14 · answer #3 · answered by I scream for ICE CREAM!! 3 · 0⤊ 0⤋
Yes that's true. But just be sure that in the event you have to make a claim under Comp, that you have set aside the amount for the higher deductible because you are going to have to pay that out of pocket before the insurance company reimburses you for the loss.
2007-01-26 15:38:57 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Help yourself - you can check your quotes in internet for example here - DEALSQUOTES.INFO
RE True or false? I can save money on car insurance by choosing a higher deductible?
#EANF#
2014-08-28 07:00:14 · answer #5 · answered by Anonymous · 0⤊ 0⤋
True. You will have a lower monthly payment, but if you get into an accident, you will have to pay a higher deductible to get the vehicle fixed. I choose to go with the higher monthly payment and at accident time, $100 is alot easier to come by than $500 or higher.
2007-01-26 09:17:34 · answer #6 · answered by Anonymous · 1⤊ 0⤋
A higher deductable can in fact lower your insurance payments, but remember, if you have an accident, you have to pay your deductible amount before the insurance will pay.
2007-01-26 09:16:09 · answer #7 · answered by suz 1 · 1⤊ 0⤋
Yes, you can save money but just as long as you are not an accident prone person. If you get in many accidents you will have to pay the deductible, so just see how much you could save and weigh out your odds
2007-01-26 09:14:42 · answer #8 · answered by JenJenJen 2 · 0⤊ 0⤋
Absolutely, but you have to follow up by not getting into accidents. You lose your savings the moment you find yourself paying that higher deductible.
(All insurance companies will be different, so you'll have to see if they even offer the option.)
2007-01-26 09:13:28 · answer #9 · answered by Anonymous · 0⤊ 0⤋
TRUE, the higher your deductible, - the less the insurance company have to pay in case of claim
In this case you will faced more risk and you pay less fee
if you feel you are a good driver just do this!
2007-01-26 09:14:59 · answer #10 · answered by sm bn 6 · 0⤊ 0⤋