Money saving idea, increase the deductible on your insurance; is that really a good idea?
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YARNLADY is happy everyday
ANSWERS: 4
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this is only good if you have the money in your bank account to cover the deductible. i saved money to cover my higher deductible in premium's saving alone so for me was a win/win.
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a higher deductable is OK IF! If you have a very good driving record and no accidents or other tickets. then you have to have the cash on hand in the bank always to cover the deductable. It can help you save money or it can kill the savings! Weigh the options carefully. You know how you drive better than others or you should.
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I don't see that as being a viable or long term answer.
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Depends on your situation. If you've a good driving record and the cash on hand to cover the deductible then why not go for it. I did this myself awhile back as I sock away monthly about half the amount of the deductible anyways so meeting it is not an issue.
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