Quixotic
|
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. |
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path2631
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True, but remember that means if your in a accident you have to come up with that amount first to get your car fixed so if the car is damaged 2500 and your deductible is 1000 then you got to front that 1000 first. Can you do that? |
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suz
|
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. |
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Arty
 |
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. |
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Brad B
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true, because you are accepting more of the risk. If you have the deductible in savings it is a good way to save some money monthly. But make sure you have tht deductible availiable in cash...otherwise it is not worth the savings monthly because you are taking too much of a risk. |
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AslansKirk
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True, but then if you have an accident, you'll need to pay more before the insurance company kicks in their share. |
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I scream for ICE CREAM!!
|
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 |
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EC
 |
Of course.
It's just logical. They end up paying less when you get into an accident, so in exchange you get lower rates. |
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sexylatinguy23
|
True, just pray you don't get into an accident and you can't afford the deductible. |
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Wisdom Troll
|
True |
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kidd3422
|
True True and True. Be careful though. Those deductibles sneak up on you sometimes. |
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Vert
|
True, but if you file a claim you have to pay that deductable out of pocket. so i usally go with a 500 deductable. |
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golden rider
 |
True, but it will cost you more if you need to use the insurance. |
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feanor
 |
If the deductible is the only variable then it's true. |
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angel09
|
sure can, unless it's financed, then you'll need to make sure you're following their agreement (some companies have a max limit) |
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hube.nguyen
|
Yes, It's true |
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zippythejessi
|
Very true. |
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george 2
|
yes!!! |
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sm bn
|
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! |
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JenJenJen
 |
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 |
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Delilah
|
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. |
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Jo
 |
True. |
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Mick R
|
yes |
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First Lady
|
Yep...true. |
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mbrcatz
|
True. The deductible is the amount out of your pocket, before the insurance kicks in. The higher the deductible, the more out of your pocket before the insurance kicks in, the lower the premium. |
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jerseygirl
|
true |
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Mahal
|
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.) |
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Defenderoftheunderground™
|
You can also save a bunch of money by switching to Geico. |
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lyndsie
|
True. You do not want a higher deductible, believe me. My previous deductible was $550!! Can you believe that? Someone hit my car (hit and run) and I paid $550 to get the damages fixed. I would get a lower deductible. |
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minisaucy
|
Depends on your insurance company, but most of the time yes you can. |
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doug a
|
You can save money on car insurance by switching to Geiko. |
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