[pepsionice]

Around fifteen years ago....I was upset with the car insurance going up yearly, and finally sat down with the agent to discuss a big change. I finally said....I wanted the deductible to change. He thought I was discussing going from $500 to $1000. I suggested $2000. He did the numbers and suddenly I cut my yearly cost by fifty percent. He gave me a list of ten reasons why this wasn’t smart. I noted I hadn’t had an accident in my life and was approaching 40.

[HotHunt]

My deductible on my auto insurance has been $2500 for years. And our premiums have been very low, as a result. The key is to be a good, defensive driver.

I tend to look at insurance like it's supposed to work. It's there to cover the big losses, not the nuts and bolts stuff. You cover the routine things and, if the car is totaled, the insurance picks up most of the tab. Otherwise, I think you're throwing money down a rat hole with a low deductible.

Medical insurance should work the same way.

[pieceofthepuzzle]

Yes, high deductibles make sense for those with the lowest risk, especially if it results in a significantly less expensive policy. That said, that isn't what's happening. The administration and democrat legislators essentially decided against promoting low-cost catastrophic coverage, and instead insisted that everyone have extensive bells and whistles in their policies - which is why they are so expensive despite the high deductibles (not to mention that they are making everyone pay for the policies of the uninsured). It's the equivalent of the government making everyone buy cable packages with 100s of channels they don't want and that they'll likely never watch.

[Hardens Hollow]

Good job! There are options also that agents ‘forget’ to tell us are not required but are optional - like medical, uninsured motorist, etc.