Look at the two numbers together
A deductible is the portion of a covered claim you pay yourself under the applicable coverage. Increasing a collision or comprehensive deductible can reduce the premium, but it also increases your share of a covered loss. Ask for both prices in writing.
Work through a hypothetical example
Suppose one option has a $500 deductible and another has a $1,000 deductible. If the higher-deductible option costs $120 less per year, you would take on $500 more of a covered claim in exchange for that annual premium difference.
That is how long the illustrated annual premium difference would take to equal the extra deductible. It is not a forecast of whether you will have a claim.
Make your own version using the actual premium difference you were quoted. Do not assume the same discount applies to every insurer, vehicle or driver.
Ask whether the cash would be there
A useful personal question is: “If I needed the car repaired next week, could I cover this deductible without missing essential bills?” A lower recurring payment is less useful if the larger claim expense would leave you unable to repair your car.
Check each coverage separately
Collision and comprehensive can have different deductibles. Confirm which deductible changed, check any glass provision, and review lender requirements. Keep the other coverage terms the same while comparing the trade-off.
Further reading: Insurance Information Institute: collision and comprehensive. Coverage and eligibility depend on the policy, insurer and state.
Put your questions to work.
Start with your ZIP and continue to the Quote Pro Auto quiz.