It’s a good idea to set aside the deductible amount so you have it if you need to make a claim. But the benefits are that if you don’t have a claim that money is still yours.

I’ve been paying for automobile insurance for more than 20 years without making a claim. That’s a lot of money saved by keeping a high deductible.

My regular health insurance would cover any medical expenses where my car insurance company left off, so this time around, I lowered my car insurance medical limit to $5k–the minimum.

Saved me about $30 over the six-month premium!