The question of whether or not your should raise your accident auto insurance deductibles in order to save money on your premiums is a common one, and the situation is different for every person. As with everything involved with insurance, the question is always about how much risk you are willing to assume. The lower your deductible, the less you are at risk of losing money in the event of an accident, natural disaster, theft, etc. However, you will also need to part with a bit more of your money to take on less risk - your premiums will go up the lower your deductible. Conversely, raising your deductible could save you between 25% and 50% on your auto insurance premiums.
Put simply, your deductible should be set at an amount you could afford to pay in an emergency. At the same time, accident auto insurance should not be viewed as a way to get a complete reimbursement for all losses. The average policyholder will claim a total-loss only once in every 50 years, so if you choose to set your deductible too low, you will certainly end up paying MUCH more in premiums than by assuming more risk, lowering your premium, and saving a bit of that money for a rainy day.
It pays to shop around for auto insurance quotes, so every once and awhile check out what the major companies are offering.
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