Blog How to Choose a Car Insurance Deductible

How to Choose a Car Insurance Deductible

July 16, 2019 · Personal Lines, Car Insurance

Choosing a car insurance deductible is a personal decision. It depends on your personal comfort level and the amount of risk you are willing to take. It is really up to you to weigh your options and make the choice for you and your family. One of our agents at Hennessey, Thames & Leavitt can give you some information you need to make an educated decision, but you need to make the decision yourself.

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Phone: (601) 636-5560

Please note: coverage cannot be bound or altered online. A service representative will need to contact you to finalize your request.

What does your emergency fund look like?

You need to consider what your bank account looks like when choosing a deductible. Having a $1,000 deductible is not helpful if you have a claim and cannot afford to pay the deductible.

What is the value of your car?

The value of your car makes a difference in what deductible you should choose. A high deductible on a high valued car makes sense because the savings could be significant.

If you are one of those people that like to carry physical damage on your older car, you make think about choosing a lower deductible. The value of the car may not be that much more than a high deductible. Moreover, the savings of a high deductible versus a lower deductible may not be that significant.

What are the various cost for different deductibles?

Check with us at Hennessey, Thames and Leavitt to see what the different deductibles will cost. If it will take more than three years to recoup your money you are probably better off going with the lower deductible.

What is your risk?

What are your chances of having a claim? Accidents happen; every driver has some risk no matter how good of a driver you are. Do you drive during peak traffic time, do you frequent busy intersections or park in crowded parking lots or narrowly miss hitting a deer often? If the likelihood of having an accident is frequent, you may want to carry a lower deductible.

Does it make sense to choose a different deductible for different coverages?

Often people choose different car insurance deductibles for different coverages. Comprehensive coverage is generally a cheaper coverage so you may choose a lower deductible for that coverage. Collision coverage is often more expensive so choosing a higher deductible may be more cost effective.

Contact us

Hennessey, Thames and Leavitt Insurance Agency in Vicksburg, MS is here to help you make these decisions. Give us a call at 601-636-5560, email us at:, or come by and visit us at 1001 Belmont Street. We are here to help you.