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If you own a vehicle, it's your responsibility to obtain a car insurance policy. This process involves choosing multiple variations in coverage, as well as deciding between a low or high deductible. With all the options, it can get confusing quickly. Luckily, the trusted agents at Cundiff & Company Insurance are here to help. The Somerset, KY, insurance company created this simple guide to explain the pros and cons of low deductible insurance policies.

A deductible is the amount your car insurance requires you to pay in the event of an accident. Once you pay your part, the insurance company will cover the rest of the damages. Most policies give you the option of choosing a $250, $500, or $1,000 deductible. While the lowest may be the most enticing initially, it's important to understand the advantages and disadvantages of choosing the lower fee.

One of the main advantages of a low deductible insurance policy is the minimal out-of-pocket expense. It's much more feasible for most individuals to come up with $250 at any given moment than it is to meet a $500 or $1,000 deductible.

insurance companyA low deductible may also get you a better deal on your policy. Some insurance companies offer discounts to customers choosing a higher monthly payment. Ask your agent to verify the cost difference between both types of plans to see if it's going to save you money in the long run.

While your deductible may be lower, your monthly premiums will be higher than they would be with a higher deductible. The increased payment may be seen as a disadvantage for some individuals, especially when a tight budget is involved.

Let the professionals at Cundiff & Company Insurance find you a policy that meets all your needs. The Somerset-based insurance company offers auto, home, and life insurance policies with multiple variations of coverage and deductibles. Working with multiple big-name companies, the team will be able to find you the best deal available. Learn more about the independent agency on their website, and call (606) 679-8379 to get your quote.  

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