Is $200 deductable too high?
Find answers to your legal question.
Is $200 deductable too high?
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So is a 200 dollar deductable too high for my auto insurance?
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Dr Zoidberg
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Nope. Mine's $500. |
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jim p
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The way I explain it to people is pick a deductible you can afford if you ever need to use it. The difference in premiums between a $200 or a $500 most likely is less than $10 month. So in the long run you are paying a higher premium but the advantage is a lower payemnt to the shop ($200 vs $500). Too often I have people that can't afford the deductible and have save up in order to get their car fixed because they chose a high deductible. If you can afford to pay the higher premiums, I'd stick with the lower deductible. |
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Bongu Honcho
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Sounds too low to me. |
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rp
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No actually that is on the average most people go with a 200 -500 deductible to keep their premiums low. |
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djaca70
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No, that is reasonable. However, what is your premium? |
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Nigel M
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It depends. This is an economics question each person has to evaluate. Insurance is gambling. You are betting that you will have an accident, the insurance company is betting you will not. As the deductible increases, your rates drop. Thus if you do not think that you will have accident; you want a high deductible, because your rates will be much lower. If you are accident prone, the higher rates might be worth it. |
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Andy
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I keep 500 on mine to save money. |
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Kizzy
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Depends on your financial ability. The higher the deductible, the lower your premium is. |
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