Rachel Cruze

I mean, it drops my premiums way down.

OK, so but, you know, so you just kind of got to look at that.

And most of the time, the best deal on a $30,000 car and under is somewhere around a $500 or $1,000 deductible.

Somewhere in there is what you're looking for.

And so just divide out the difference.

The savings, take the savings on your premium, divide that into the additional risk.

And if that's about a three, about a three-year risk pattern, it's probably wise to take the higher deductible in that case.

But almost every time you're going to find that to work on going from $250 to $500.

So no, you don't lower the deductible.

We're always trying to raise deductibles and raise the amount we have in savings to cover it.

So we're giving the insurance company less money.

Insurance should cover catastrophes, not hangnails.

That's what you're looking for.

And so the more, in anything you're doing, like if you can do a high deductible health insurance plan, like an HSA plan, your premiums go way down on your health insurance when you do that because you're accepting the first $5,000 or $7,000 or $10,000 worth of risk on the health insurance.

And $5,000 or $10,000 is not going to cause you to bankrupt on a medical bill.

What caused you to bankrupt is $350,000 with a NICU stay with a baby.

or $350,000 with a heart bypass, or a million, or whatever it ends up, that's the ones that break you.

So what you're covering is the big stuff on a car wreck, the big stuff on a health insurance, and the deductible is the little stuff.

So as soon as you can keep enough of your insurance, your emergency fund up there, you want to do that, like Rachel said.

Larry is in Nashville.