Myra Posted April 23 Share Posted April 23 So how much does everyone have for car insurance deductibles - have a 2017 and a new 2024 car - should I keep it at $500 as it is now or move it to $1000? Quote Link to comment Share on other sites More sharing options...
Carol in Cal. Posted April 23 Share Posted April 23 It depends on the difference in price. 1 Quote Link to comment Share on other sites More sharing options...
Myra Posted April 23 Author Share Posted April 23 (edited) currently have them set for $500 for each car 1000 comp/$1000 collision: would save $160 a year: savings for the $500 increase would be realized in about 3 years if accident fault free $1500 comp/$1500 collision: would save $240 a year: savings for the $1000 increase would be realized in about 4 years if accident fault free https://www.forbes.com/advisor/car-insurance/savings-by-raising-car-insurance-deductible/ Edited April 23 by Myra Quote Link to comment Share on other sites More sharing options...
JustEm Posted April 23 Share Posted April 23 We always pick high deductible low premium. But that is because we can comfortably pay deductibles if issues arise, not that that has happened. We've only ever been in accidents where the other person's insurance paid so we had no deductible to deal with. 2 Quote Link to comment Share on other sites More sharing options...
Miss Tick Posted April 23 Share Posted April 23 I, too, would use the highest deductible I can afford to cover. 1 Quote Link to comment Share on other sites More sharing options...
Bambam Posted April 23 Share Posted April 23 We always pick the highest deductible we feel comfortable with. Car and home. Quote Link to comment Share on other sites More sharing options...
Soror Posted April 24 Share Posted April 24 We have $1000 deductible because we have multiple drivers and cars and it's too expensive otherwise. 10 hours ago, hjffkj said: We always pick high deductible low premium. But that is because we can comfortably pay deductibles if issues arise, not that that has happened. We've only ever been in accidents where the other person's insurance paid so we had no deductible to deal with. Just to jump off from this-- depending on your state and the accident-- just because it isn't your fault doesn't mean you won't have to pay the deductible. We were hit in parking lots twice in the last 2 years. The police will not even do an accident report because it is private property and it is he said/she said. Both times both parties had to pay their own repairs. With mine the auto shop finangled it so I got out of my deductible and on dh's car he just fixed it himself because it was minor and his car is a lot older. Ds just got side-swiped in an intersection and although he is the one that got hit because there were no witnesses they are both at fault because the driver said his light was also green. The auto shop said they got his deductible down by using some aftermarket parts, instead of factory original (considering ds's car is 11 years old at this point and not in perfect condition he was fine with this). Ds had just taken the card out of his dashcam to download the pictures. I had a dash cam but didn't have a card in at the time. Dh didn't have one in his but is buying one. Before these 3 accidents we had only had 1 accident in our entire marriage- dh hit a deer on our rural road over a decade ago. I think at this point luck should be on our side and we shouldn't have any more accidents in a very long time. Long story short- always have the deductible saved and dashcams are your friend! Quote Link to comment Share on other sites More sharing options...
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