What deductible should you carry with full coverage?

What's the best deductible to carry? There are a lot of options for full coverage deductibles.

Answer provided by
Emily Maracle
Answered on Jul 06, 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.
“When looking at deductibles for collision insurance and comprehensive insurance, you’ll need to decide what you can afford to pay out of pocket.
The most common deductibles to carry for full coverage are $500 or $1,000.
This is because people are typically able to pay this amount up front if their vehicle is damaged in an accident. If you don’t think you’ll be able to afford this, you’ll want to consider a lower deductible.
However, as you reduce your deductible, your insurance rate will rise. This is because insurance companies would be paying more if you file a claim.
To decide what deductible would be best for you, you should look at rates with various carriers. You can adjust the deductible for full coverage to see what you’d be able to afford.”

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