Insurance Deductibles: Choosing the Right Amount to Save Mon
By National Association of Insurance Commissioners | 6 min read
Optimize insurance costs by choosing appropriate deductibles. Premium savings vs out-of-pocket risk analysis.
Insurance deductibles significantly impact premium costs and out-of-pocket expenses. Higher deductibles mean: Lower monthly premiums, Higher out-of-pocket costs when filing claims, Need for emergency fund to cover deductibles. Auto insurance: Consider $500-$1,000 deductibles for comprehensive and collision coverage. Homeowners insurance: Deductibles often percentage-based (1-2% of home value). Health insurance: Balance premium savings with potential medical costs.\n\n**Related Resources**\n- [Financial Planning Tools](/tools)\n- [Budget Calculator](/budget-planner)\n- [Credit Guide](/category/Debt%20%26%20Credit)\n- [Money Saving Tips](/category/Save%20Money)