If you’ve searched the Internet to find ways to save money on your auto insurance, you’ve likely come across advice to increase your deductible. True enough, you can decrease the cost of your auto insurance by increasing your deductible in Albany, NY, but you shouldn’t do this. In most cases, our team at NY Twin Bridges Insurance Agency found that it’s simply not worth it.

Increasing Your Deductible Doesn’t Have a Significant Impact on Your Rate

The portion of your monthly rate that based on your deductible is a fraction of the cost of your auto insurance policy. In fact, with each deductible increase, you will save a few dollars each month in the grand scheme of things. However, you will have to pay hundreds more if you experience a loss. When it comes to increasing your deductible, the benefits don’t outweigh the costs.

With a Higher Deductible, You Are Responsible for Paying More

In Albany, NY, a higher deductible means you pay more if you experience a loss. Unfortunately, many drivers don’t consider this until it’s too late. No one wants to pay more following a car accident or the theft of their vehicle simply because they wanted to reduce their monthly rate.

You Can Save More Money Using Other Strategies

The rate you pay for your auto insurance is based on a lot of factors, not simply the amount you agree to pay for your deductible. As such, when you increase your deductible, you are only tweaking a small aspect of your auto insurance policy. There are other ways you can reduce your auto insurance rate without incurring an additional expense, including:

• Maintaining a safe driving record

• Avoiding speeding tickets

• Driving a vehicle with a good safety rating

• Avoiding accidents

When you employ multiple strategies to reduce the cost of your auto insurance, you increase your savings overall.

At NY Twin Bridges Insurance Agency, we offer a suite of competitively priced auto insurance products. If you need auto insurance or you want to compare the coverage you have with what we offer, give us a call today.