By increasing your deductible from $500 to $1,000, for example, you could lower your premium by 10–20%. But before making the change, consider how easily you could cover that higher amount if an accident happens. This local insurance guide helps explain what coverage levels are ideal for different risk profiles.
Lower monthly or annual premium costs
Encourages more mindful, cautious driving
Works well if you rarely file claims
However, it’s not for everyone. If you drive frequently, have a history of minor collisions, or wouldn’t be able to quickly access $1,000 in case of a claim, the risk may outweigh the reward.
It’s always smart to reassess your current plan annually. Review other strategies like multi-policy discounts and driving behavior programs — all outlined in this cost-saving breakdown.
Making a small tweak like raising your deductible could be the move that keeps your budget balanced in 2025 — just be sure to weigh the pros and cons before deciding.
