Deductible On Car Insurance
January 8th, 2010
Question: Should I have a higher or lower car insurance deductible? ?
2 cars one year we were quoted 1049 w a 500 dollar deductible. To save some money we can do a 1000 deductible and its 824. we have money in the bank and usually do not use any insurance. I just wanted some opinions. thank you all !
Thanks all, we are going to go with the higher deductible. If we are hit than we dont have to pay a deductible anyhow even if they are not insured.
Answer: The higher deductible will most likely save you money in the long run. However, if you have loans on the cars you need to check the lenders’ requirements. Many lenders will not allow a deductible higher than $500.
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