Considering that securing accident coverage is one of the most important parts of buying car insurance, it is imperative to be aware that the deductibles you choose will affect how much you pay for your premiums and how accidents are handled. Most drivers know that a higher deductible means a lower car insurance quote, but many aren't fully aware of the implications of changing a deductible to try to get cheaper car insurance coverage.
To start with the basics, a higher deductible means that if you should cause an accident while driving, you'll have to pay more out of pocket as a result of having less coverage. You're out-of-pocket money will go towards the repair of the other person's car or property, along with any medical bills that you're liable for - items that your coverage doesn't extend to. When you buy high deductible insurance, insurers take on less of a risk, so you'll notice that car insurance quotes are quite a bit lower. That doesn't mean that you should immediately opt for the highest deductible possible. Make sure you know how little car insurance you can get away with. Depending on the laws of your state and the area of coverage you're looking at, there may be a mandated minimum. Obviously this means you can't opt for less coverage and a higher deductible than that requires.
Before looking for car insurance quotes, consider what deductible would be ideal for your unique situation. Consider the worst and how well you are prepared if you happen to be in a serious car accident. How much could you realistically afford to pay out of pocket? Take into account your driving habits. Not so much whether you consider yourself a good driver, but how often you drive per week, along with the areas that you're likely to drive in. Try to decide on a car insurance deductible that would be manageable if you were to cause an accident. This is the deductible that you should consider for your car insurance coverage when looking for quotes.
Don't forget to consider other factors when looking for low premiums. Some car insurers offer discounts for customers that use their other insurance services or pay ahead of time instead of on a month-to-month basis. Try to use these types of discounts to lower your premiums instead of changing your car insurance coverage if possible.
It's a little more risky to drive around with a higher deductible, but the money you save could certainly be worth it if you're a careful driver. There's no reason that you should pay for unnecessary car insurance coverage, so evaluate your own situation and decide whether a higher deductible plan could be beneficial for you.