Mistake 4: Setting a Deductible That Doesn’t Fit Your Budget
A deductible is the amount you pay out-of-pocket before insurance covers the rest. Choosing the wrong one can create serious financial stress if an accident happens.
Many drivers pick a very high deductible to lower their monthly premiums. While this reduces regular payments, it can be a shock when you need to pay thousands upfront after an accident.
Conversely, choosing a very low deductible increases your monthly payments unnecessarily. The key is to find a balance that fits your budget.
Getting this wrong may not feel immediate, but it could cost you heavily the moment an accident occurs.
Next, we’ll cover a mistake most drivers don’t even realize they’re making — until it’s too late.
