First, what is a deductible? The insurance deductible is the amount you will need to pay before your insurance company pays out for any claim you make. The reason for deductibles is to limit the number of small claims since this process can get expensive.
Your deductible is one thing you may be able to adjust to help get you the rate you are looking for. The goal is to get a better rate without reducing your coverage limits. Typically, the higher deductible you select, the lower your premium will be. Deductibles for your Arizona auto policy can range anywhere from $250 to $2,500. It’s a good idea to select a deductible that isn’t too high. If something happens where you need to use your insurance coverage, you’ll want to have the amount selected for your deductible ready for your use. Many don’t have $2,500 laying around for this reason which is why most people will not select $2,500 for their deductible. A common “higher” auto deductible often selected is “$1000″. The most common deductible chosen is $500.
Choosing a deductible is ultimately up to the Driver. How much money can you have available in the event you need to make a claim. Underwrite your own risk and select your deductible wisely.