When I am asked about choosing a deductible for vehicle insurance- its important to consider whether one has the money set aside to come up with the designated amount to repair their vehicle and if it’s actually worth it carry a higher deductible.  Many financial syndicates will say- carry $1000 deductible- it’s the best savings.  Depending on the coverage – this may or may not make sense.  

Comprehensive coverage- coverage if one hits a deer, thier car is stolen, their car is vandalized, hail damage occurs or glass damage occurs.  This one of the cheapest coverages on a policy.  The difference between $1000 deductible and $250 deductible- could be less than $3/month. In my personal opinion- this minimal savings - wouldn’t be worth carrying a higher deductible.

Collision coverage- coverage if someone is at fault to fix their vehicle- is one of the more expensive coverages on an auto insurance policy.  Carrying $1000 deductible can make sense- to keep premiums lower- but one must have that $1000 set aside- in order to prevent a financial burden. 

Choosing a deductible- can’t be painted with a broad stroke brush. 

In the insurance industry- its easy to sell just on price- everyone wants a good rate.  Its important to keep the coverage selected in mind- does it make sense for the customer too?