As you set up your car insurance, there are several limits you'll establish. Perhaps the most important of these is the amount you choose for your deductible. Your deductible will determine the premiums of your car insurance quotes, as well as how much you have to pay out of pocket in the event of an accident. It is critical to set your deductible (including double deductible options) where it will do you the most good.
A deductible for any type of insurance is the amount of money you pay before your insurance company offers coverage. With health insurance, your deductible is usually a yearly figure. After you reach that number, your insurance carrier takes over payments up to their level of coverage.
It's about the same with car insurance quotes, except that the deductible is based on a per case basis. In other words, each time you have an accident, you must pay the deductible before your insurance company will begin their coverage. Your payment amount, or premium, is based on the amount of your deductible. The higher you set your deductible, the lower your payments. If your deductible is low, your premium will be high. If your deductible is higher, your insurance company will not pay as much.
If you can honestly say that you're a safe driver, you may want to choose the higher deductible. If you have a clean driving record, you may not have an accident for 2 years or even longer. The extra you pay for a low deductible is probably being wasted, since you aren't the type to have accidents frequently.
If, on the other hand, you have a less-than-perfect driving record, you may elect the higher deductible. While your payments will be higher, you won't be out as much if you have an accident. It's good practice to purchase insurance with as high a limit as you can afford if your driving record is lackluster.
Some people, through no fault of their own, are in the wrong place at the right time--regularly. If bad luck seems to follow you, if it seems like you never catch a break. If you're the kind to get hit in the eye by the champagne cork, you might want to consider adding a double deductible option to your policy. It doesn't cost much more and it will protect you from paying more than one deductible if you are hit two times in one day.
Car insurance companies look at multiple accidents as individual events, unless they occur within five minutes of each other, such as in a chain event collision. A double deductible option will prevent your having to pay the deductible each time you have a collision.