Free tool
Deductible break-even calculator
Compare two collision or comprehensive deductibles. Enter the yearly premium your insurer quotes for each, and see how many claim-free years it takes for the higher deductible to pay for itself.
Break-even
3.6 years
- Yearly premium saving
- $140
- Extra you'd pay per claim
- $500
- Expected yearly difference at your claim rate
- +$40
Positive means the higher deductible is expected to save you money at that claim rate. Only choose a deductible you could pay tomorrow from savings.
Using the result
- A short break-even (a few years) usually favors the higher deductible, if you have the cash set aside.
- If you've had several claims recently, the lower deductible may make more sense.
- Comprehensive and collision can have different deductibles; ask about each.
- The deductible doesn't affect liability coverage, which you shouldn't cut to save money.
Read the guide: Raising your deductible: when it makes sense.