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How do I lower my deductible on my car insurance?
I have a really high deductible for my full coverage insurance. I needed to save money initially, so it's at $2,500. I want to lower it since I know I can't afford to pay that out of pocket after an accident. How can I lower it?
Emily Maracle · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Raising your deductible on your
comprehensive coverage
and collision coverage
is a common way to save money while maintaining full coverage.However, changing it to a lower amount can avoid financial distress if you’re in an accident.
To lower your premium, a quick phone call to your insurance company or a visit to your online account should give you the ability to lower your deductibles. If you’re working online, you should be able to adjust the deductible and be given an updated monthly and yearly premium. Be mindful that your rate will be higher the lower your deductible is.
If you want to work with an agent, you could tell them exactly what deductible amount you want, or you can give them an idea of how much you can afford to pay monthly. They can match you with a corresponding deductible.
Any time you make changes to your
car insurance policy
, shopping around is essential. Since you’re looking to lower your deductible, request car insurance quotes with other companies with your ideal amount. If you want to help, go to Jerry
.Jerry gathers quotes based on the customized coverage that you want, ensuring you’re always getting exactly what you need with none of the unnecessary fluff.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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