Insurance
Why is it wise to raise the deductibles to their highest amounts on car and home insurance?
Why is it wise to raise the deductibles to their highest amounts on car and home insurance?
Raising the deductibles to the highest amounts (usually $1,000) will decrease the yearly premiums, saving you hundreds and maybe thousands of dollars per year. It is important to see insurance as a policy against catastrophe, not something to protect you against the small issues that come with everyday life.
You only want to file a claim when necessary (file too many claims and the insurance company will very likely dump you). Insurance is there to deal with the many catastrophes. Keep reminding yourself of that key fact and that will help you in ratcheting up those deductibles across the board.