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Seems like everybody that calls me w/ a BMW, Benz, Rang Rover, or some car along those lines have the worst deductibles. They are always like $1000. I would think if you have a nice car like that you would want some nice coverage for your ride. whats that about?
 

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My theory is they are getting a car that is out of their league financially and they are gambling with the deductible.
 

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Usually having a higher deductible reduces your annual insurance premium and the lower the deductible increases the annual premium.Some will take the minimum insurance coverage for the vehicle and cross their fingers that nothing will happen to their car(not smart).But like Egz said most likely they can afford to pay a higher deductible.

[ 04-17-2003, 04:49 PM: Message edited by: Virtual_Insanity ]
 

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Don't Call Me Gaga!
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I've often wondered why people skimp on insurance with expensive cars too. What is REALLY crazy is when they skrimp and save to get the car and then they don't bother with collision insurance.

TO ME, my Focus is an expensive car.. (It is worth 10x more than my other two cars)Consequently I have a $100 comprehensive and a $500 collision deductible. That is just about the best I can afford.
 

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Many people with expensive cars also have enough money in the bank to deal with minor accidents, etc. and therefore choose a higher deductible. They've done the math and decided that self-insuring themselves against the small claims is more cost-effective (for them). Remember that an expensive car usually is more expensive to insure than a cheaper car so the price difference between a $100 deductible and a $1000 deductible is probably greater than the difference on a cheaper car.
 

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Originally posted by OmniFocus:

TO ME, my Focus is an expensive car.. (It is worth 10x more than my other two cars)Consequently I have a $100 comprehensive and a $500 collision deductible. That is just about the best I can afford.
<font size="2" face="Verdana, Arial">Same here..but my focus is worth LESS then my last car that I had (about 10K more)
 
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