Difference Between $100 and $1,000 Deductibles is Only $14 Per 12 Months... So What's the Catch?

[BlockO]

Sounds like you are really close to renewal like what has been posted, otherwise it doesn't make sense to me.

yes, the OP mentioned earlier that the policy renewed on new years day. so the question has already been answered.... how we ended up back where we started I'm not sure.

 

[FEX Quotes]

on what vehicle? a Gremlin, Yugo or motorized bar stool?

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I'm only kidding, Fex.

I think you meant $100, not $1000, right? there was a typo earlier in the thread where he said $1000, but meant $100. otherwise, why would anyone take $250/500 deductibles?

My cars are later models (2009 Jag, 2013 Hyundai, 2014 VW and 2016 GMC) and I meant $100 ded. (one hundred)

The difference between a $50 ded. (fifty) and a $1000 ded. (one thousand) is negligible. And before you ask, I verified full term vs. pro-rata

 

[BlockO]

My cars are later models (2009 Jag, 2013 Hyundai, 2014 VW and 2016 GMC) and I meant $100 ded. (one hundred)

The difference between a $50 ded. (fifty) and a $1000 ded. (one thousand) is negligible. And before you ask, I verified full term vs. pro-rata

I figured you meant one hundred.

but for the difference of fifty and a thousand being negligible....

that's very rare to see. I've only seen it on a classic car.... I wonder why anyone would select $250 or $500 deductibles if that's the case?

 

[FEX Quotes]

I figured you meant one hundred.

but for the difference of fifty and a thousand being negligible....

that's very rare to see. I've only seen it on a classic car.... I wonder why anyone would select $250 or $500 deductibles if that's the case?

Maybe it's a regional thing? I have seen this with other carriers and other lines as well. The concept of a larger deductible to save significant premium just hasn't been my experience at all.

 

[bobson]

Please make sure that premium savings goes to something more important than beer

Is there anything more important than beer????

 

[BlockO]

Is there anything more important than beer????

True, but you don't really BUY beer.... you just RENT it.

 

[FireDragon]

Don't know what kind of vehicle Fex has. However, I have an Acura MDX, Honda Accord, and a BMW 325i. On the Acura MDX, the premium difference between $1,000 and $100 deductible is only $14 for the entire 6 months.

I asked my MIL to give me access to her Geico account and poke around. She has a Mercedes E320 wagon(2002). She is the only one on the policy. If I change her deductible from $1000 to $100, the increase for the 6-month policy is $127 additional. Although... she's only been with Geico for about 2 years.

First you said it $7 per 6-months, now you're saying 14 for 6-months...Geico isn't a magical company and they intentionally confuse people and change other coverages to make themselves look good. I've seen it over and over and in my opinion Geico is a garbage company.