Adam Boca

Saving Money with Deductibles

I often hear people tell me that they have a $0 deductible from other leading insurance companies or that they have a diminishing deductible. I ask them what the advantage to this is? Most really do not have an answer except knowing that small claims will be handled without any out of pocket expense. What most people do not realize is that this is a way to drive your premium up. When I ask those with the diminishing deductible if their premium goes up each year, I always hear yes. Do you wonder why?

Many customers prefer to customize a policy that is right for them. If a lower premium is most important deductibles can be a great option to save money while not compromising the type of coverage on the unit. 9 times out of 10 my customer sees that their premiums can drop significantly to justify the out of pocket expense if an accident ever does occur. We offer several deductible options from $0, $250, $500, $1,000 and up to $10,000. If you are worried about glass coverage, we’ve got you covered. We offer “Full Safety Glass Coverage” at an additional charge, so if you have any front window damage you will not be out a deductible.

Example:

Say I own a 2010 Corvette Grand Sport Coupe in KY
Value $58,000
3,000 miles or less driven a year
$100K/$300K on Bodily Injury, Uninsured/Underinsured Motorists
$0 deductible = $742 per year
$250 deductible = $614 per year
$500 deductible = $580 per year

You can see that there is over a $150 savings from $0-$500 deductible.

If you are interested in receiving a no obligation quote, with deductible options, please check out our site at www.ncminsurance.com.

JACKAL0PE

I'm trying to figure out if there are any people on the forum that don't already know this.

Adam Boca

You would be surprised. We have many calls daily that think because they have a collector car that they should have a $0 deductible.

BATM4N

One would think but through my experiences, its always surprising how many people are not "math" minded people. Not that they're dumb and can't add or subtract, its just they can't understand any complex math, like how to figure out which loan is right for them i.e. home loans, car loans or figuring out insurance on these items as well.

Thus one of the main reasons for our housing crisis

(and no I don't sell insurance for a living)

dquagliaroli

Just another consideration - realistically how often do you have an accident? If you go three or five years your savings will be ????
A - 450-750 B 150 C - Can't tell from example D- Duhh

c5BlackBeauty

You would be surprised at how many people are out there and unaware of the nuances of their insurance coverages....even for the vette.

Adam is a great resource and can offer a nice package.....I know - I'm a satisfied customer.

Fast Cop

Another satistified customer here. Adam see you end of May when my brother and I come to the NCM for a visit.