- 1. Increasing the deductible on collision from $500 to $1000.
- 2. Increasing the deductibles on both collision and comprehensive from $500 to $1000.
Here are the results:
Option 1: Total savings of $60 over 6 month premium. Comes out to $10 a month.
Option 2: Total savings of $70 over 6 month premium. Comes out to $11.67 a month.
Ugh! I am just not feeling those numbers.
Increasing the deductible wouldn't pay itself off for 4+ years (when the savings equals the extra $500 in deductible I will be liable to pay out if I ever get into a fender bender).
What do you guys think? Would you go for it?