Lilah Butler, Car Insurance Writer
The lowest deductible for car insurance can be $0, but the average deductible is $500. Deductibles usually range from as low as $100 to as high as $2,000 depending on what you're comfortable with paying in a pinch. Higher deductibles generally come with the advantage of lowering your monthly premiums, so if you have the possibility to pay a higher deductible for a car insurance accident for example, then you might find it lucrative to opt for the lower premiums.
Progressive for instance advertises that your premium will be 27% lower if you choose a $250 deductible as opposed to a $100 one. USAA and Nationwide on the other hand offer savings ranging from 15% to 30% based on your chosen deductible.
Check out Wallethub's article on car insurance deductible to find out more on what a deductible is and how it can lower your premium.
Did we answer your question?