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Question: Which is a better idea going to a large deductible or a small deductible when going for an automobile insurance?

Answer: Deductible is the initial amount that the car owner must pay after which all expenses would be borne by the insurance company. Usually car insurance seekers including first time car buyers opt for a small deductible to save some money. Opting for a small deductible may appear to be money saving proposition at first instance but opting for a higher deductible is not always a good idea.

You can lower the car insurance premium to be paid each year in case you opt for a substantial deductible amount. A deductible would also mean that you would not be approaching the insurance company for every minor repair thereby increasing your chances of getting a no claim bonus at the end of the year.

Deductible is the initial amount that the car owner must pay after which all expenses would be borne by the insurance company. Usually car insurance seekers including first time car buyers opt for a small deductible to save some money. Opting for a small deductible may appear to be money saving proposition at first instance but opting for a higher deductible is not always a good idea.

You can lower the car insurance premium to be paid each year in case you opt for a substantial deductible amount. A deductible would also mean that you would not be approaching the insurance company for every minor repair thereby increasing your chances of getting a no claim bonus at the end of the year. Source: CoolInterview.com

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