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If you want to still have comprehensive or collision coverage, a lower deductible is better. You should make sure the value of your car is more than your deductible otherwise paying for this coverage is useless.

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Q: Should I have a high or low deductible on an old car?
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Related questions

Should you pay a high or low property deductible for home insurance?

Depends on your financial situation. If you have plenty of money saved to pay a high deductible, you can get a higher deductible and have lower premiums. If you usually do not have a lot of money in savings, a lower deductible would be better so you would be able to come up with the deductible if a claim has to be filed.

What are my options for Low Deductible Insurance?

A low deductible insurance policy simply means that, a low deductible, possibly $200 as compared to $2,000 which would be a high deductible. Often you are also given the option of choosing 80, 90 or 100% co-insurance. Co-insurance is the amount that the insurance company pays (after deductible) up to whatever is the maximum out of pocket amount.

Is it worthwhile if you travel a lot to have a low deductible insurance?

Yes, if you travel a lot it would be helpful to have a low deductible insurance. You would be out of your network most of the time, and in the case of needed medical treatment, you do not want your deductible to be so high that you cannot afford the treatment.

Is it better to get a low deductible insurance policy for my teenage son?

A low deductible will mean higher premiu. Your premium will already undoubtably be high with a teenage driver on your policy so you may want to consider it.

How much does a biopsy costs?

My bill was $2500. My low cost insurance did not pay as I had not met my high deductible.

How much does a prostate biopsy cost?

My bill was $2500. My low cost insurance did not pay as I had not met my high deductible.

How much can I expect to save on a high deductible insurance policy over a low deductible policy?

On average you can expect to save about 15%. Keep in mind your driving record will influence your rates.

What is better for home insurance low or high deductible?

This depends on how much money you have in reserves to pay for repairs or unexpected expenses. If you have 2 to 5,000 to use for emergencies consider a higher deductible to lower premiums as insurance should be considered for major catastrophies and not about $100 broken window claims.

What is the preferable tolerance should it be high or should it be low?

tolerance should high or low for risistors

Hot wheels low flow car which way does it drive?

the low bit is at the back and the high bit is at the front this is how it drives!!!!!! der the high bit is the front of the car and the low bit is at the back of the car the low bit is the way it reverses and the high bit is the bit where it goes forward

Is friction high or low a car tire on a road surface?


Do low deductible insurance plans generally cost more than high deductible insurance plans?

Yes. That is how the insurance company makes money. They either charge low premiums and you get higher deductibles and out of pocket expenses, or charge more an give you lower deductibles and out of pocket expenses.