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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: 1tolivesimply on August 21, 2014, 04:03:22 PM

Title: Raising Insurance Deductibles, how much do you save?
Post by: 1tolivesimply on August 21, 2014, 04:03:22 PM

Hello Mustachians,

Just wondering if anyone around here has raised their insurance deductibles? How much did that save you on average? Is it worth the extra risk for you?
I was just checking quicken and realized that I'm paying thousands a year in homeowners insurance policies (3 rentals & my house), so I'm just trying to decide if I should go ahead and increase mine at least a bit more (not $10,000).

Thanks!

Title: Re: Raising Insurance Deductibles, how much do you save?
Post by: SnackDog on August 21, 2014, 04:32:07 PM

We always keep our deductibles at the absolute maximum.  I have only had two auto insurance and one homeowners claim in about 30 years.  High deductibles can save you a fortune if rarely claim.