Coverage Deductible Break-Even Tool

Deductible Break-Even Calculator

Is a lower premium worth the higher risk? Find out how long you need to stay claim-free for the savings to pay off.

Current Annual Premium ($)

Current Deductible ($)

Proposed Annual Premium ($)

Proposed Deductible ($)

Your Break-Even Point Is

0.0 Years

Your break-even point is a guide, not a guarantee. Here are key factors to consider when deciding if a higher deductible is right for you:

Your Emergency Fund: Do you have the proposed deductible amount ($1000) easily accessible in savings? If a surprise bill would cause financial stress, a lower deductible offers more peace of mind.
Your Driving Record: If you have a long history of safe, claim-free driving, you’re a good candidate to take the “bet” on a higher deductible.
Your Risk Tolerance: Ultimately, it’s a personal choice. Are you comfortable with a higher potential one-time cost in exchange for guaranteed savings every year?

*This simplified model does not account for inflation, changes in your premium over time, or the potential for your rates to increase after a claim.