What’s the best deductible amount for car insurance? There’s no set answer, but you should ask yourself a few important questions before deciding:

How Much Can You Afford? Balance your desire for lower monthly or annual Florida auto insurance payments with a realistic view of your finances. Can you afford to pay the higher deductible if you get into a minor accident? The higher your deductible, the more you’ll pay out of pocket. If the car is a total wreck after the accident, this might not be a huge problem, but minor accidents could have you paying the entire amount of the repair work yourself if your Florida car insurance deductible is too high

Save Up Your Car Insurance Deductible. If you take a higher deductible, try to save the entire amount of that Florida car insurance deductible in a savings account to be used only when you need to pay. If you can’t afford to save up that higher deductible, consider paying the extra money for the lower amount.

What is your car worth? If your Florida car insurance deductible is too high, it might not be worth the out-of-pocket expense if you get into a wreck. Is your car an older model? Newer? Balance the amount you might have to pay out of pocket with the amount of money your car is actually worth. Check the Blue Book value of your vehicle before settling on insurance coverage amounts for your Florida auto insurance.

Lower monthly payments might help you in the short term, but higher deductibles can hurt you in the long term. When you buy Florida auto insurance, assume you WILL get into an accident and set your car insurance levels accordingly.