Insurance Calculator
Deductible Savings Calculator
A higher deductible cuts your premium but costs you more when you file a claim. See the premium you'd save, the extra risk you'd take on, and how long it takes to break even.
Compare Two Deductibles
Ask your insurer to re-quote at the higher deductible.
Annual Premium Savings
for taking on $500 more risk per claim
Added Out-of-Pocket Risk
$500
Break-Even
2.1 yrs
5-Year Premium Saved
$1,200
Net if You Claim Once/5yr
+$700
Verdict
If you rarely file claims and can cover the higher deductible from savings, the lower premium usually wins over time.
How it works.
Frequently asked questions.
When does a higher deductible make sense?
When you have the cash to cover the higher deductible without stress, and you rarely file claims. The premium savings compound every year, so if you go several claim-free years you come out well ahead. If money is tight or you file often, a lower deductible is safer.
Should I really keep the difference in savings?
Yes — that's the key. The math only works if you set aside enough to cover the higher deductible when a claim happens. If a surprise $1,000 bill would be a hardship, the lower deductible buys you peace of mind that's worth the extra premium.
Does a higher deductible affect small claims too?
It can discourage filing small claims, which may actually help you — frequent small claims can raise your rates or risk non-renewal. Many drivers pay minor damage out of pocket regardless, making a higher deductible a natural fit.