Auto Insurance Deductibles: Deciding Low Vs. High

Recently on Reddit, an auto insurance customer was concerned as to which deductible decision — low vs. high — was “the right one.”

“I just realized the price difference between a $500 vs. $1,000 deductibles on my collision coverage is $50 per 6 months,” he wrote. “It occurred to me the lower deductible is essentially gambling. I would be wagering $50 to win $450 that I cause an accident in the next 6 months. It seems like it goes against common sense to bet that I get into an accident. Assuming