What's the best deductible to have on your insurance?

My car insurance company is offering deductibles between $0-$2,500. I'm not sure what I should select for comprehensive and collision insurance. What's recommended?

“The most common deductibles that people carry on their car insurance is either $500 or $1,000. On average, these amounts are what most people would feel comfortable paying out of pocket while reducing the impact on their rate.
Carrying a higher deductible for collision coverage or comprehensive coverage reduces your insurance costs. When you lower your deductible, your premium will increase.
Look at your finances and see how much you can afford to pay for car insurance every month and what you could afford to pay out of pocket for a deductible. If you can’t afford a $500-$1,000 deductible, look at the cost of your insurance with a lower deductible. You could always lower your deductible now and save up enough money to raise your deductible in the future.
To save some cash for an emergency fund that can help you raise your deductible, consider the Jerry app. Sign up in minutes to compare quotes and find the best value for your hard-earned money.”
Emily Maracle
Answered on Sep 09, 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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