Naturally, the higher the deductible, the lower the premium. That makes sense,
since you accept to pay part of the damage if you’re in an accident.
Should you go with a higher deductible or assume the repair costs if you have
an accident? Make sure you understand the impact!
However, if you do decide to go with a higher deductible, better evaluate whether the
savings outweigh your young one’s financial ability to pay the deductible if they have
an accident. Just image if they were to find themselves with a damaged vehicle but didn’t
have the money to have it repaired, or was stuck with having to make payments on a car that
they couldn’t use!
Find out more