How do I lower my deductible on my car insurance?

I have a really high deductible for my full coverage insurance. I needed to save money initially, so it's at $2,500. I want to lower it since I know I can't afford to pay that out of pocket after an accident. How can I lower it?

Answer
Raising your deductible on your comprehensive coverage and collision coverage is a common way to save money while maintaining full coverage.
However, changing it to a lower amount can avoid financial distress if you’re in an accident.
To lower your premium, a quick phone call to your insurance company or a visit to your online account should give you the ability to lower your deductibles. If you’re working online, you should be able to adjust the deductible and be given an updated monthly and yearly premium. Be mindful that your rate will be higher the lower your deductible is.
If you want to work with an agent, you could tell them exactly what deductible amount you want, or you can give them an idea of how much you can afford to pay monthly. They can match you with a corresponding deductible.
Any time you make changes to your car insurance policy, shopping around is essential. Since you’re looking to lower your deductible, request car insurance quotes with other companies with your ideal amount. If you want to help, go to Jerry.
Jerry gathers quotes based on the customized coverage that you want, ensuring you’re always getting exactly what you need with none of the unnecessary fluff.
Emily Maracle
Answered on Oct 25, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
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