After revising our auto insurance policies...

[RitaZ.]

I have been thinking that maybe we should increase our deductibles to $500. I'll have to call my agent to determine if the savings are worth doing it.

What are you deductibles on your auto insurance?

 

[AllyandJack]

We have a $500. on collision and $100. on glass.

I originally had $200. on glass and then discovered that it only costs $242. to replace my windshield. It was only another $4./year to get it to $100., so I did it. I couldn't see paying for coverage when I was paying all but $42. of the service and they wouldn't let me opt out of the glass coverage since my auto is still financed.

 

[caitycaity]

we have a $500 deductible. works for us.

 

[Chicago526]

$500 on collision but $0 on comprehensive (that includes glass). Since going from $250 to $0 deductable on the comprehensive only cost me $8 a year, I figured it was worth it! I figure it's more likely that I'll have a broken window or have my car keyed than get into a reck, anyway.

 

[OhMari]

We have had the $500 deductible for the last 10 years, but my husband works in the auto collision industry, and we were able to swallow the $500 towards his labor.

He said when people had accidents, most found it very hard to come up with the $500. People wanted him to find every scratch and dent that they could, so the vehicle could be totaled (which he wouldn't do unless it was related to the accident). It doesn't take much to total a vechicle now a days though. Most cars have so much aluminum instead of steal, cars crinkle like a soda can.

 

[barkley]

just raised ours to 1000.00 on collision. also found out that a change in insurance laws allows you to have a different amount of med pay for passengers vs family members (i have private health insurance that would pay, and i would likely use them anyway-so why pay more in insurance to just get them a larger reimbursement).

we had awsome driving records until this past 6 months-dh had 2 "oops" (he and another driver backed into each other while pulling out of fast food parking spaces-we saw no damage (and filed no claim) but apparantly the rental car company that owned the other driver's car did then dh calls it a smidge too close at the carwash and pulls off the drivers side mirror, then dh has a "real accident" that resulted in his car being about a grand from totaled (civic vs mustang, civic drives away with nary a scratch-mustang ). so 20 years of good driving is ignored and they triple the premiums for the next 3 years.

the increase in deductables save us almost $1200 per year.

 

[mickeyfan2]

I have been thinking that maybe we should increase our deductibles to $500. I'll have to call my agent to determine if the savings are worth doing it.

What are you deductibles on your auto insurance?

First thing - Do you have a lien holder on the vehicle. If so, then they dictate the deductible. Most want $100.

For us we have our deductible as $1000.

 

[RitaZ.]

Ok, I called our agent and we would be saving a little over $50 every six months to go from $250 to $500. Not much of a savings, I still have to think about it. Money in my pocket is better than money is their pockets.

 

[mickeyfan2]

Most cars have so much aluminum instead of steal, cars crinkle like a soda can.

This is what you want it to do. As an engineer I know about forces and why you want crumple zones. Think of it this way - Either the car or you takes the impact. I vote for the car.

 

[WIcruizer]

We have 1,000 deductibles. Plus check add ons like towing, road side assistance, etc. These are usually over priced items. Look at how much it costs for both vehicles combined for every year, and you'll find it probably makes sense todump those coverages. Could save another $100 a year or so.

 

[RitaZ.]

First thing - Do you have a lien holder on the vehicle. If so, then they dictate the deductible. Most want $100.

For us we have our deductible as $1000.

One is (just bought it), the other one we paid off early. Our bank didn't dictate our deductible amount though.

BTW, the cost of insurance on the new auto is slightly lower than the older one (4 yrs. old). Go figure!

 

[mickeyfan2]

BTW, the cost of insurance on the new auto is slightly lower than the older one (4 yrs. old). Go figure!

Part of your coverage is probably for injury to the occupants. The new car is much safer, so less medical bills thus lover premium.

 

[ChrisnSteph]

We have a $300 deductible. We've had to use it twice, so it's been worth it to us.

 

[RitaZ.]

Part of your coverage is probably for injury to the occupants. The new car is much safer, so less medical bills thus lover premium.

Yes, no doubt about it, it's a safer vehicle.

 

[Morganpics]

Once we reached the point of being able to save a little money we upped our deductible to $1000. It dropped our premium quite a lot (don't remember offhand, but it was worth it on paper).

 

[twojo21]

ours deds are $1000. its cost effective to have a higher deductible plus it keeps you from filing small claims & losing discounts.

 

[RitaZ.]

I'm looking at the long term savings. We have been with the same insurance company since we got married (18 yrs. ago) and have only filed 2 claims, one which was caused by Wilma. The probability that we will have to file claims is low, but one never knows. I'm still undecided...

 

[mickeyfan2]

If the paying out of an extra $250 scares you more than saving $50 every 6 months, then I would not raise the deductible. If you went accident free for 2.5 years you would have the extra $250, but nobody can predict the future.