Auto Insurance Deductible Calculator
Raising your deductible from $500 to $1,000 usually cuts 5% to 15% off your collision and comprehensive premiums. This calculator shows whether the gamble pays for you.
Your auto insurance deductible is what you pay out of pocket on each collision or comprehensive claim before insurance pays. Raising the deductible from $500 to $1,000 typically saves 5% to 15% on the collision and comprehensive portions of your premium, not on liability. The break-even is the deductible increase divided by the annual savings: a $500 increase saving $120 per year breaks even after about 4.2 claim-free years. Raise the deductible only if you can comfortably cover it from emergency savings, and check that your lender or lease allows it.
Data current as of October 2026. Savings percentages are typical industry ranges; your actual savings vary by insurer, state, vehicle, and driving record. Verify with a quote from your insurer.
How the math worked
This is an estimate for planning only, not insurance advice. Premium savings vary by insurer, state, vehicle, and driving record; get a real quote before changing your deductible. Lenders and leases may limit how high your deductible can go. Confirm your policy terms with your insurer.
How the deductible gamble actually works
Your deductible is the amount you pay out of pocket on each collision or comprehensive claim before your insurance pays anything. Raise it, and your premium falls, because you are agreeing to absorb more of each loss. Lower it, and your premium rises. The entire decision is a break-even problem: how many claim-free years does it take for the premium savings to cover the extra risk?
The typical trade: moving from a $500 to a $1,000 deductible saves roughly 5% to 15% on the collision and comprehensive portions of your premium. Note the scope: the savings apply to those coverages, not to liability, so enter only your collision plus comprehensive premium in the calculator above. A $500 deductible increase saving $120 per year breaks even after about 4.2 claim-free years. Go five years without a claim and you are ahead; file a claim in year two and the higher deductible wipes out the savings.
Two constraints sit outside the math. First, you must actually be able to pay the higher deductible on short notice, which means keeping it covered by emergency savings, not by optimism. Second, if you have a loan or lease, the lender may cap your deductible at $500 or $1,000; check before you raise it. Within those guardrails, the break-even tells you whether the gamble is priced in your favor.
Learn more about auto insurance deductibles
- What Car Insurance Deductible Should I Choose?
- How Your Deductible Changes Your Premium (With Examples)
- When to Raise Your Deductible to $1,000
- Comprehensive vs Collision Deductible, Explained
- Can You Change Your Deductible Anytime?