Around fifteen years ago, I was sitting in a car insurance office and had a long chat with the lady....I wanted lower rates. So the lady finally suggested...a huge deductible. At the time, I think I had at $300. I ended up having it set at $1,500 (it was a fairly new car, I admit). Rates drastically went down.
I would not suggest this strategy with a car which is five or six years old.
I would be curious to know what the yearly health insurance would be....if my deductible was around $10,000.
“...I would not suggest this strategy with a car which is five or six years old....”
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On older cars in our family we traditionally DROPPED COLLISION COVERAGE entirely. Our only exceptions have been on cars which could be accessed by teen drivers,
RE: I would not suggest this strategy with a car which is five or six years old.
Well for health insurance, that would also apply to an older person would it not?
“I would be curious to know what the yearly health insurance would be....if my deductible was around $10,000.”
The first year of Obamacare, I looked up what my rate would be, I was, I think, 60 at the time; very healthy and male. My deductible on the paper Mache plan was $10,000 and the insurance, with no drug coverage, was a mere $8,000 per year. Essentially it was a catastrophic care policy. But I would need to keep paying the policy while paying the $10,000, which, if I was catastrophized, might have been difficult.