Should you raise your car insurance deductible?
A higher deductible lowers your premium but increases what you'd pay out of pocket in a claim. This tool shows the added risk, your annual savings, and exactly how long it takes to break even — for collision and comprehensive.
Want a licensed Minnesota insurance professional to review these numbers against your actual policy? Request a free, no-obligation review.
Get My Minnesota Auto QuoteHow it works. Your extra self-insured risk is the difference between the two deductibles (proposed − current). Break-even time is that extra risk divided by your annual savings.
Worked example. Raising collision from $500 to $1,000 saves $10/month. That's $120/year in savings against $500 of added risk — break-even of 4.17 years. Under the 2.5-year rule, that change is not worth it unless you have the $1,000 set aside and rarely file collision claims.
This is a planning estimate, not a quote. Actual premium changes vary by carrier, vehicle, and driver. New to deductibles? Start with our coverage guide.
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