Can I lower my full coverage insurance premiums by increasing my deductible?
Yes, you can lower your full coverage insurance premiums by increasing your deductible. A deductible is the amount of money you have to pay before your insurance kicks in. By choosing a higher deductible, you are agreeing to pay more out of pocket if you have a claim. This means the insurance company has less risk, so they can offer you a lower premium. However, be sure you can afford the higher deductible in case you do have to make a claim. It’s important to weigh the potential savings against the financial risk of a higher deductible.
