Question about insurance.

iVillage Member
Registered: 12-31-2005
Question about insurance.
8
Thu, 07-10-2008 - 2:08pm
I just added our new to us used car to my auto policy.

over 40 and tired

Avatar for mahopac
iVillage Member
Registered: 07-24-1997
Thu, 07-10-2008 - 3:05pm

Generally, the higher the deductible, the lower the premium. Of course, you have to be able to pay the deductible immediately if you're in an accident. If you have an e-fund, you probably would be ok with a higher deductible.

Ask your agent how your premium would change if you increase the deductible to $250 and to $500.

Kelly

Community Leader
Registered: 07-26-1999
Thu, 07-10-2008 - 3:32pm
I would agree with Kelly, I was always told the higher the deductible the lower the premium.
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Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Thu, 07-10-2008 - 3:35pm

We look to car insurance to help out if our vehicles are completely wrecked, we don't sweat the small stuff.


We have a $1,000 deductible on both cars, and pay $800/yr for the 2 vehicles (2000 Honda CRV and 1997 Ford Ranger).

All my best,
Danni
cl-phocid, Debt Support Group



All my best,
Danni

iVillage Member
Registered: 03-27-2005
Thu, 07-10-2008 - 4:15pm

I have a $500 deductable.


stacy

iVillage Member
Registered: 06-20-2008
Thu, 07-10-2008 - 4:28pm

On our automotive loans, the bank expects a 500 deductable


Sheila

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iVillage Member
Registered: 05-09-2005
Fri, 07-11-2008 - 10:52am
Ours is $500.00. But look at the rest of your policy. If you are carrying collision coverage for the 93,96 and 02 vehicles and they are paid off, you should probably think about dropping it. See how much just liability and comprehensive are costing.
Insurance folks don't seem to want to tell you how to save. Eventually you will probably want an umbrella for the liability which raises how much the insurance pays if you are at fault. Good idea if you own a home which could be at risk in a lawsuit.
Hope that helps,
Megan
iVillage Member
Registered: 11-17-2007
Fri, 07-11-2008 - 2:47pm

Ours is 500.00 Some you can go to a 1000.00 yes it makes a difference in payments


Just put the deductable amount in a 6 month CD that is due to roll over the month your 6 month policy payment is due.

iVillage Member
Registered: 07-12-2008
Sat, 07-12-2008 - 12:39am
Call up the insurance co. and find out what the premiums would be with a $250 and $500 deductible.
 

Steve