What Level Deductible Should You Choose? Columbia SC

Deductible amounts are usually set at $200, $500, $1,000, or $2,500. The higher the deductible amount, the lower your auto insurance premium will be.

Allstate Auto Insurance
(888) 355-7971
611 Lady St Unit A
Columbia, SC
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate - Trevor Wright
(803) 639-8051
1945 Decker Blvd Ste 13
Columbia, SC
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

Allstate Auto Insurance
(888) 355-7971
8604 Farrow Rd
Columbia, SC
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
615 Southlake Rd
Columbia, SC
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
6316 Saint Andrews Rd
Columbia, SC
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate - Michael Farrell
(803) 693-5038
611 Lady St Unit 100
Columbia, SC
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

Allstate Auto Insurance
(888) 355-7971
3510 Bush River Rd
Columbia, SC
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
6864 Garners Ferry Rd
Columbia, SC
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate - Richard Parker
(803) 574-9970
9400 Two Notch Rd Ste A
Columbia, SC
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

Allstate Auto Insurance
(888) 355-7971
162 London Gray Dr
Columbia, SC
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

What Level Deductible Should You Choose?

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This question is one of the most frequently asked questions when customers begin shopping for auto insurance. The answer is simple: as much as you can afford to pay if you are involved in a serious accident. Deductible amounts are usually set at $200, $500, $1,000, or $2,500. The higher the deductible amount, the lower your auto insurance premium will be. Setting a high deductible amount can help you save anywhere from 15 to 40 percent on your car insurance premium, however, the entire deductible must be paid out of pocket before the auto insurance company will pay your claim.

There are other risks involved in setting a high deductible. If you carry the minimum auto liability insurance amounts required law, you may lack sufficient coverage to cover damages for a serious accident. For example, in states like, Louisiana and Florida, the minimum requirements are as little as 10/20/10. This means, drivers in these states must carry at least $10,000 of coverage for injury to one person, $20,000 of coverage for injury to two or more people per accident, and a minimum of $10,000 for property damage per accident. If there are several parties involved in the accident and you are found to be at fault, you could end up having to pay the double the amount covered by you policy, plus the deductible.

In states such as Maine and Alaska, the minimum requirements are as high as 50/100/25. This means, drivers in Maine and Alaska must carry at least $50,000 of coverage for injury to one person, $100,000 of coverage for injury to two or more people per accident, and a minimum of $25,000 for property damage per accident. The requirements in Maine and Alaska are as close as you can get to what most experts recommend. Most experts recommend carrying 100/300/25 especially if you have assets, such as a house or other investments to protect.

To calculate your risk of being involved in an auto accident, you consider the same factors the auto insurance companies evaluate. Auto insurance companies consider how often you drive (high usage increases risk), where you live (crowded city, small town, suburb), number of drivers, make and model of vehicle, age, occupation, gender, and driving history. If your accident risk is considered high, you might consider choosing a lower deductible. If your accident risk is considered low, you may want to choose a higher deductible. However, before choosing a higher deductible, consider this – there are many ways to save money on your auto insurance premium without having to choose a high deductible or inadequate coverage.

Auto insurance companies want your business, so they are more than willing to reward safe drivers, drivers with good grades, and many others by offering discounts of anywhere from 10%-15%. Auto insurance companies offer discounts for remaining accident free for three years or more, for anti-theft devices, and for insuring more than one automobile. You may also be entitled to any of the discounts listed below, offered by most nationwide auto insurance companies.

-Age 50 (if you are the only driver or other drivers are married and over 25 years of age)

-Enrolling in a defensive driving course.

-Low annual mileage (mileage of less than 7,500 miles a year)

-Low "damage-ability." (owning a car that's statistically less likely to result in an expensive claim)

-Non-commuter. Driving less than 20 miles, (in some cases 30) a week to and from work.

-Passive restraints (airbags or automatic seatbelts) and/or anti-lock breaks.

For more information about auto insurance deductibles, visit Auto Insurance Deductibles for details.