How to choose deductibles
Higher deductibles lower your premium, but make sure you can afford the out of pocket cost if you file a claim. Many drivers pick between $500 and $1,000 depending on budget and vehicle value.
When full coverage is worth it
- Your car is financed or leased and the lender requires it.
- Replacement cost would strain your finances without collision or comprehensive.
- You park on the street or live where theft, hail, flood, or wildfires are common.
When to consider dropping full coverage
If your car’s market value is close to or below the annual premium difference plus your deductible, dropping one or both coverages may make sense. Balance savings against your tolerance for risk and local weather or theft exposure.
Tips to reduce the cost of full coverage
- Compare two or three providers and revisit quotes every 6 to 12 months.
- Ask about telematics, multi policy, good student, and pay in full discounts.
- Adjust deductibles after pricing the premium changes at $500, $750, and $1,000.