The Complicated World of Insurance Made SimpleThe Complicated World of Insurance Made Simple

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The Complicated World of Insurance Made Simple

When I bought my first home, I had a real estate agent lead me through the entire home-buying process. This made it simple and easy for me. However, when it came time to choose a homeowners insurance policy, I became very confused about what made up a good policy. I started by doing a lot of online research into what homeowners insurance features were needed in my area and then finally called an agent who led me step-by-step through choosing the policy that was best for me and my home. I learned a lot during my research and time spent talking to my agent. I have also learned a lot about other types of insurance over the years, so I thought I would start a helpful blog all about insurance. I enjoy helping others, so come back often for new tips!


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Pros And Con Of Raising Your Auto Insurance Deductible

Auto insurance is never something you should skip having if you drive a car, especially if you have a loan on the car. Having insurance is a legal requirement, but it is also something people get for protection. To save money, some drivers will raise their insurance deductibles. If you are considering this, there are several pros and cons you should know about before you go through with it.

Pros of Raising Your Deductible

The deductible on your auto insurance policy is something you will only need to worry about if you file a claim on your policy that was not caused by another person. If this happens, the deductible is the amount you will be required to pay before your insurance company will pay the remaining balance of the claim.

If you raise your deductible, you will have one main advantage: it will save you money on your policy. A higher deductible always results in a lower premium on the policy. If you are looking for ways to save money on your insurance, this is one of the simplest options you can choose. You can talk to an insurance company to find out how much this could help you save.

Cons of Raising Your Deductible

The main con of having a higher deductible is that you have less coverage. In other words, if you file a claim that requires you to pay the deductible before the insurance company will cover the claim, you will be spending more money out of your pocket.

For example, if you hit a deer, you will have to pay a deductible to get your car fixed. If the damage amounts to $2,500, you will have to pay the deductible you have first before the insurance company pays the rest. If you have a $500 deductible, that is what you must pay. If you have a $1,000 deductible, you must pay that amount.

Whatever amount you choose as your deductible should be an amount you can easily come up with if you ever file a claim. If you choose an amount you cannot afford, you may encounter problems trying to get the repairs you need for your car.

After learning about the pros and cons of having a higher deductible, you can choose the right option for your case. If you have questions about your auto insurance coverage or would like to get a free quote, contact an auto insurance agency like Clifford P Beauvais Insurance Agency today.