You've just offered to cover more of any potential comprehensive or collision claim - in other words, a bigger share of the risk. You're going to save money. But don't expect a car insurance miracle. By far the most common amount selected for car insurance deductibles is $500, chosen by about 74 percent of drivers with collision and comprehensive. The next most common is $1,000. Depending on your state and your carrier, you may be able to go as high as $2,500. If you pay a lot already for car insurance, a bigger deductible will save you more than it would someone who pays rock-bottom rates. Let's compare quotes for full coverage at $500 and $1,000 deductibles for Wanda, who drives a 2013 Ford Escape in Biloxi, Mississippi.
|$500 deductible||$1,000 deductible||Savings|
|Company A||$ 1,776||$ 1,704||$ 72|
|Company B||$ 2,076||$ 1,884||$ 192|
|Company C||$ 2,496||$ 2,328||$ 168|