When considering your collision deductible, it’s important to assess how much you would be reasonably able to pay yourself, should an accident occur. If you have ample emergency savings and could easily pay $1,000, $2,000 or more in the event of an accident, opting for a higher collision deductible may be a good choice in order to lower the overall cost of your policy. If you need protection from the out-of-pocket costs that you might incur as a result of a car accident, then a lower deductible is likely a good choice.