PLEASE UPDATE YOUR BROWSER

1 Reason Insurance (715)598-9924

Leadership Through Service

  • About
    • Meet the Insurance Agents of 1 Reason Insurance
    • Partner Insurance Companies
  • Personal Insurance
    • Car Insurance Quote for Personal Auto
    • Boat Insurance
    • Home Owners Insurance Application
    • Life Insurance Quotes
    • Motorcycle Insurance
    • Personal Umbrella Insurance
    • Renters Insurance
    • RV Camper Insurance
    • Snowmobile Insurance
  • Business Insurance
    • Commercial Auto Insurance
    • What is General Liability Insurance
    • Rental or Vacant Properties
    • Workers Compensation in Wisconsin
  • Blog
  • Contact 1 Reason Insurance
    • Contribute As Guest Author
Home > Car Insurance > How To Choose A Deductible

How To Choose A Deductible

Posted on: February 10, 2016 By: Good To Know

Deductibles are a big part of your insurance policy and it’s important to know what they mean and to choose the right amount.  Let’s talk about the basics!

The collision and comprehensive coverage on your vehicle will each have a deductible listed.  The deductible is the amount YOU will pay out of pocket before your insurance kicks in. 

So if you choose a $500 deductible and have an accident, then you will pay $500 and your insurance will cover the rest (up to your policy limits.  Ask us about your particular policy for specifics.)  Deductible options vary from $1000, $500, $250, even as low as $50 in some cases.

So how do you choose the right one for you?

First it’s important to see how your deductible affects your rate.  The lower amount you pay out of pocket after an accident, the higher your insurance premium.  This means you’ll pay more each month for insurance if you choose to pay less after a claim.  We can quote your policy with different deductibles to give you an idea of the cost.

Second, you want to look at your savings.  If you have a good amount of emergency savings and could easily pay out $1000 after a claim, then you would probably want to look at a higher deductible in order to save on premiums.  On the other hand, if you have very little savings and couldn’t pay out that much after a claim, you might want to look at a slightly lower deductible that stills fits in your budget.

And finally the best option – ask your agent for help!  We can sit down and explain ALL the options, rates, and discuss your personal situation in detail.  This way you know that you’ve got the best coverage at the best possible rate.  Call us today to start your quote.

Comments

comments

Categories: Car Insurance, Tips & Advice

1Reason Agencies

What clients have to say:

Mike T. "I started a business last year and Robert responded to my inquiries immediately, and was extremely helpful and knowledgeable as to the type of insurance coverages I would need to get started. Now its been a year and he now carries All of my coverages! Absolutely the most hands on agent I've ever worked with but hands down the friendliest! I can call him anytime and never feel rushed and not only that but he responded while on a family vacation. I believe in relationships in business and so does Robert by the way he treats his customers. I have a true friend in the business, thank you Robert!"


Lynn R. "Bob is very knowledgeable and has always done a great job explaining different aspects of coverage. He is very accessible and looks out for what is best for the consumer. We highly recommend him!


Justin T. "Excellent agent, always available for answers to insurance related questions. Bob, is the person most people strive to become. Without a doubt, a great person!"


Sebastian T. "I can not begin to tell you how pleased I am with 1 Reason Insurance ! Their responding services is friendly and complete. For the services my company offers to the public it is sure nice to know that we are covered for a reasonable fee. Just having (1 R I ) 1 Reason Insurance there is such piece of mind ! Their insurance plans are strait to the point and easy to understand.
Thanks for the great service 1 Reason Insurance !"


Jeff H. "Very nice and cares about the customer! He was literally the reason why i chose him over other companies for my insurance"

Categories

  • Bonds
    • Performance Bond
  • Bookkeeping
    • Business Taxes
  • Business Marketing
    • Webhosting
  • Car Insurance
  • Commercial Auto
  • Commercial Insurance
  • Court Cases
  • Cyber Liability Insurance
  • Employment Opportunities
  • Employment Practices
  • Flood Insurance
  • Home Ownership
  • Homeowner's Insurance
  • Insurance Companies
    • Insurance News
  • Insurance Terms
  • Investing
    • Finance & Insurance News
  • Life Insurance
  • Non Emergency Medical Transportation
  • Payroll
  • Pinewood Derby
  • Professional Liability / E&O
  • Real Estate News
  • Rental Property Insurance
  • Retirement & Estate Planning
  • RV Insurance
  • Starting A Business
  • Stock Dividends
  • SuiteCRM Insurance CRM
  • Taxes
  • Tips & Advice
  • Travel
  • Uncategorized
  • Worker's Compensation

Recent Posts

  • LGI Homes Continues Growth in Tampa, Florida with Expansion in Spring Hill
  • FG Communities Completes Manufactured Housing Acquisition in Morganton, North Carolina
  • Michael Keeney Joins Greystone as Chief Underwriter for Agency Lending
  • DeFi Development Corp. Purchases 20,473 Solana (SOL), Bringing Treasury Holdings to 420,690 SOL
  • DeFi Development Corp. Announces Closing of $24 Million Private Placement
  • Americold Announces First Quarter 2025 Results
  • Whitestone REIT Acquires San Clemente Neighborhood Retail Center in Austin
  • HCI Group Reports First Quarter 2025 Results