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Question

How do I choose a car insurance deductible?

I’m trying to understand the value of the Comp/Collision coverage and what level of deductible is best for me. How often does the average insured file a claim on their comprehensive/collision coverage? Every 17.9 years, says Forbes, can that be true?

Agent Answer

Kristine Lee

When it comes to selecting your deductible you have to know what you can afford, and if you could cover the claim or damages with a high deductible. If so, high deductible + good driving = a lot of savings but a lot of people can’t fork over 1k-2k in the event of an accident. The purpose of insurance is to protect you financially after an accident so if you can cover the damages to your vehicle yourself, then you would not want to add comprehensive and collision coverage. The fact that Forbes stated the average driver files a claim every 17.9 years, is a statistic and should not be used to determine your specific coverage. Accidents happen and are not planned so if you cannot afford to cover the damages to your car in the event of an accident, you should include comprehensive and collision coverage.

See more here on how your deductible affects your premium.

Good luck and if you have any questions, don’t hesitate to ask. For more information, see our additional resources below.

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