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How do I know what deductibles are best for me?
How do I know if I am getting the right deductibles for my insurance policy? I just bought a 2014 Toyota and paid cash for it. It's not a new car, but I still want to have it fully covered just in case of an accident.
Shannon Martin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“It is understandable that you want to protect your new to you car and the good news is that since it is a bit older, full coverage will be cheaper!
Since you want physical damage coverage, you must add comprehensive and
collision coverage
to your policy.Usually, the advice for selecting a deductible is to choose the highest limit you can comfortably afford to keep the cost low.
I suggest getting quotes for both $500 and $1000 deductibles to see what works best for your budget.
Keep in mind your deductibles can be different. For example, you can have a comprehensive deductible at $100 and a collision deductible at $500.
There is a strong chance you could have a very low deductible at a reasonable price.
One of the easiest ways to see all of your available options is to get quotes from multiple companies simultaneously.
Downloading the
Jerry
app can help! Jerry shops prices with over 50 different insurance companies and delivers the lowest rates straight to your phone in seconds. If you have any questions, you can text an agent, and they will text right back with assistance!”View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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