What is the best deductible for motor insurance?

Answers: Whatever you can afford. If $250 would strain your pocketbook, pocket the $250. If you can afford $1,000, take the thousand. If you can afford to replace the car in need effort, don't carry physical make worse. Source(s): agent, 21+ years
None or whatever you can afford if any emergency be to occur.
It all depends on what you can afford to lose. The point of insurance is that you believe it is safer for you to pay a monthly amount you can afford instead of person forced to pay some huge amount you can't afford in valise of an accident.

So the way to look at deductibles is to compare three situations (assume you own a $1,000 deductible) and ask yourself how you would feel about them.

#1: You are surrounded by an accident. The part of the mar you have to pay for is $1,005. The insurance covers $5, you reimburse the $1,000.

#2: You are in another accident. Your factor of the damage is $5,000. You still pay $1,000, the insurance pays $4,000.

#3: Third fluke: Damage is $100,000. You still pay only $1,000, the insurance pays the rest.

How do you quality about these examples? Can you afford to go through adjectives of them? What is your safety experience? Have you driven accident-free for many years and you can afford to risk self-insuring the "stupid driver risk"?

That's the process to figure it out. There is no single answer for everyone.
Well, I feel I like answer #3 best here. We had an catastrophe a little over a year ago and had a $1,000 deductable and have to borrow the money to pay that part, unfortuantely. And we still don't own it back yet. (the kid have to pay the insurance company first, he was uninsured) You enjoy to go with what is best for you. Just form sure you have plenty of coverage and note that profoundly of loans make you have no more than $500. I would NOT shift under $100/300 coverage with a min of $5,000 medical. Check your uni/ui coverage boundaries as well. If you own a home or boat, maybe you should check into umbrella coverage, not expensive, basically a few bucks extra. You may think these things are dumb and excessive but if you ever have to use them similar to we did, it will pay off. Remember near insurance, the same holds true, you get what you repay for.
It depends on how much savings you own. I'd suggest starting w/ a $500 or $1000 deductible. Ask your agent to run a comparison & see how much you'd save on the premiums.

Generally, you will save more the sophisticated your deductible is.

The other thing to consider is your car. If it's a nice vehicle that's expensive to repair then you might want to carry a lower deductible since a simple fender bender can be costly.
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You will save a lot if you can do a $1000 deductible & drive undamagingly.

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