There’s no one-size-fits-all solution to deductibles. Choosing a deductible means weighing risks against costs.
When you choose a low deductible, it means your premiums will be higher, but you won’t have to pay as much after a loss. It makes your policy more expensive, but it reduces your personal risk.
When you choose a high deductible, your premiums will be lower, but you will pay a larger share of any claim settlements. Your policy will be less expensive , but you will carry higher risk. Selecting a high deductible tells your insurer that you intend to pay for small losses yourself. They’ll offer you lower premiums in return.
When choosing a deductible, ask yourself how much you can reasonably afford to pay if a loss were to occur, and look for a deductible that matches that comfort level.