Rachel Cruze

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Might not be in all states.

Full coverage, and anytime you can raise the deductible, a larger deductible, and you have the money in your emergency fund to cover it, it's going to drop your car insurance rates, okay?

And so the difference in a 250 and a 500 is huge.

The difference in a 500 and a 1,000, depending on the price of the car, the value of the car is huge.

And a way you can analyze it is this, okay?

If you go from $250 deductible to a $500 deductible, you're taking an additional $250 worth of risk.

Divide that into the savings.

And so if it saves you $25, then that's a year, that's 10 years.

No, I wouldn't do that.

If it saves you $250, then you made your money back in one year on the risk.

So how much does the premium, the insurance premium drop as you raise the risk you're taking and compare those two?

And if you can make your money, the risk money back, even though you don't actually spend the money out unless you have a wreck, if you can make it back in about three years, you ought to break even on the increased risk in about three years.

So like I've got expensive cars and I carry, I think it's a $10,000 deductible now.

But these are expensive cars.

And so but it drops my deductible.