Auto Insurance

[CashOnDelivery]

I am just curious to see how many people prefer a $0 deductible for auto insurance (Higher cost overall) or a $500 deductible?

[CEOriginal]

I personally have $0 comp and $500 collision. My thinking is that I would hate to pay for something that I have no control over (comp damage), and if I'm ever the cause of an accident, I'll just have to bit the bullet. That's what savings is for. 

[Open123]

I go with $1,000.

If it weren't leased, I wouldn't even bother and just have liability.

[mlanca83]

I work in insurance, I know I know....it's terrible. I have 500 for comp and collision and hope I never need to pay it. If you want to save have liability limits of 100/300 for 6 months and rates are much better after that. Even if you have the minimum and increase to 25/50 liability it will help make you seem less risky to carriers. Hope this info helps someone.

[09Lexie]

I have $500 ded and $100/$300 k. Even though its not a lease, I figured the price difference wasn't that much to go down to $25/50. On my daughters car ( when I carried her on our policy) I actually lowered the ded to $250. She was a magnet for mishaps.

[Open123]

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@mlanca83 wrote:
If you want to save have liability limits of 100/300 for 6 months and rates are much better after that. Even if you have the minimum and increase to 25/50 liability it will help make you seem less risky to carriers. Hope this info helps someone.

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Never knew that!  So, have 100/300 for 6 months, and then lower it to the 25/50 for maximum price efficiency?

[mlanca83]

No, sorry I didn't word that better. Anything higher than the minimum bodily injury limits required gets you a better rate after six months. I have 100/300 and honestly it's almost the same price as lower coverage because you get a better rating tier with higher coverage. Bottom line don't carry the minimum, you will end up paying more.