The lure of a low deductible is tempting, but should you bite?

By Seth Zaremba, Zinc Insurance

A quick note on low or vanishing deductibles…don’t bite. Many insurance companies market low deductibles as a benefit to you. The truth is, the insurance companies benefit.

With a low deductible, you pay a higher rate for something that may never happen. I’d like to suggest you instead have a deductible strategy, one that benefits you instead of the insurance company.

Good drivers with a clean record should be at $1,000 for their deductible. Over 10 years, you could save as much as $2,500. That savings will more than cover the out-of-pocket cost you’ll have in the event of a claim, and allow you to keep more money in the bank.

Ignoring the marketing hype surrounding low or vanishing deductibles gives you the power to control your money. Why not hold it yourself?

If you have the ability and have a reasonable savings, controlling your money the way you see fit puts you in the driver’s seat where you belong.
Isn’t that a better strategy?

If you’d like to have an intelligent conversation about how you can keep more of your money, please give us a call.

Zinc is located at 3505 E. Royalton Rd., Suite 110, in Broadview Heights. The phone number is 440-740-3540. Office hours are Monday-Friday, 8:30 a.m.-4:30 p.m. Find them online at ZincInsurance.com and on Facebook at Zinc Insurance.