McKayla Girardin, Car Insurance Writer
@mckayla_girardin
Yes, a $2,000 deductible is good for car insurance if you want a lower monthly premium. The most common deductibles are $500 and $1,000, but a higher deductible can be a good option if you can afford to pay more out of pocket in the event of a claim.
Car Insurance Deductibles by Coverage Type
| Coverage Type | Typical Deductible | Other Commonly Available Options |
| $500 | $100, $200, $250, or $1,000 | |
| $500 | $100, $200, $250, or $1,000 | |
| $200 or $250 | $500 | |
| $250 | $500 or $1,000 |
Remember to consider the total amount of your deductibles when choosing a deductible for each type of coverage. For example, if you are at fault for an accident, you may have to pay your collision deductible as well as deductibles for personal injury protection or health insurance.
To learn more, check out WalletHub’s guide to car insurance deductibles.
People also ask
When do you have to pay a car insurance deductible?
You have to pay a car insurance deductible when you file a claim with your own car insurance company after most types of incidents. For example, if you cause an accident that damages your vehicle, you will need to file a claim with your own collision insurance and pay your collision deductible.
Some types of coverage, like liability insurance and MedPay, never require deductibles, though.
You’ll Have to Pay a Car Insurance Deductible If:
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How does a deductible affect car insurance?
A deductible affects car insurance by determining the amount that a driver needs to pay before their insurance company will cover the cost of a claim. Deductibles also affect car insurance premiums, with higher deductibles generally resulting in lower premiums and vice versa. For example, choosing a $500 deductible instead of a $250 deductible could save a policyholder around 29% on their collision premium.
Deductibles most commonly apply to collision and comprehensive insurance, which...
read full answerIs a $500 or $1,000 deductible better?
A $1,000 deductible is better than a $500 deductible if you can afford the increased out-of-pocket cost in the event of an accident, because a higher deductible means you’ll pay lower premiums. Choosing an insurance deductible depends on the size of your emergency fund and how much you can afford for monthly premiums.
How to Choose Between a $500 and a $1,000 Deductible
1. Figure out how much you would save on your...
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