How do I determine the auto deductible I should have?

Choosing the right deductible for your car insurance is an important decision, as it can affect your monthly premium and how much you'll have to pay out of pocket if you get into an accident. Here are some factors to consider when determining the deductible you should have:

  1. Your budget: Consider how much you can afford to pay out of pocket in the event of an accident. A higher deductible will result in lower monthly premiums, but you'll have to pay more if you need to make a claim.
  2. The value of your car: If your car is worth a lot of money, you may want to consider a lower deductible to ensure that you can afford to pay for repairs if you get into an accident.
  3. Your driving record: If you have a good driving record, you may be less likely to get into an accident, so you may feel more comfortable choosing a higher deductible.
  4. Your level of risk: If you frequently drive in areas with high traffic or bad weather, you may be at a higher risk of getting into an accident, so you may want to consider a lower deductible.

Ultimately, the decision of which deductible to choose is up to you, and you should consider your personal circumstances and budget when making this decision. It's also a good idea to consult with your insurance agent to get their professional opinion and advice.

Disclaimer: The questions and answers above are for educational purposes only. They are meant to provide the public with a general conceptual understanding of insurance and do not constitute advice or analysis. Some answers might be incomplete, outdated, and even not always accurate depending on the particular rules applicable to your state. Importantly, these questions and answers are generic and do not relate to any particular insurance product, including products available on the Waffle platform. If you have any questions about any of your own insurance products, always check the policy first and direct your questions to your insurance agent or the insurance company underwriting your policy.