It’s important to understand that your deductible is the amount you have to pay out of pocket before your coverage kicks in, so it’s essential to select a deductible you can afford. Typically, deductibles range from $500 to $1000, but some companies may offer lower or higher options.
If you choose a higher deductible, your monthly or yearly premium will be lower. A lower deductible means your premium will be higher.
Before choosing a deductible, determine your budget and shop around with several companies. Since every company is different, you may find a policy and deductible that fits your budget perfectly.