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What affects your premium

Can I save money if I increase my deductible?


Yes you can, but the savings may not be worthwhile.

If you increase your collision deductible from the standard $500 to $1,000, the savings could be significant or only a few dollars. The important fact to keep in mind is that you must be ready to pay a higher portion of a claim.

With most insurers the standard deductible is $500 for All Perils, Collision and Comprehensive coverages. A few insurers have higher standard deductibles. Insurers often require higher deductibles for high valued cars.

It is possible to split All Perils coverage into separate Collision and Comprehensive coverages and have different deductibles.

Also see the section "What other coverages are available" .


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