Enter your Current Annual Premium, Current Deductible, and a Comparison Deductible into the Auto Insurance Deductible Calculator to see if raising your deductible saves you money — it reveals your Total Savings, Annual Premium Savings, and Break-Even Period.
Total Savings Over Analysis Period
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Current Deductible Total Cost
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New Deductible Total Cost
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Annual Premium Savings
Break-even Claims Per Year
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Increasing your deductible typically reduces your annual premium because you're taking on more financial responsibility for smaller claims. The savings usually range from $5-15 per year for every $100 increase in deductible.
Choose a deductible you can comfortably afford to pay out-of-pocket. Consider your emergency fund, driving history, and risk tolerance. Higher deductibles save money on premiums but cost more when you file a claim.
The average driver files an auto insurance claim about once every 7-10 years. However, this varies greatly based on driving habits, location, weather conditions, and other risk factors.
It depends on your claim frequency. If you rarely file claims, a higher deductible usually saves money through lower premiums. If you file claims frequently, a lower deductible might be more cost-effective.
Collision deductibles apply to accidents with other vehicles or objects, while comprehensive deductibles apply to non-collision events like theft, vandalism, or weather damage. You can set different deductible amounts for each.
Yes, you can typically change your deductible at any time by contacting your insurance company. The change usually takes effect at your next policy renewal period, and your premium will adjust accordingly.