Car Insurance Deductible Calculator: $500 vs $1,000 Breakeven

A higher deductible buys a lower premium, but only pays off if you go long enough without a claim. Enter two quotes from your carrier and see the breakeven point for your own claim history.

Your numbers

Ask your carrier for the annual premium at two deductibles, then enter both.

Option A deductible$Option A premium / yr$

Option B deductible$Option B premium / yr$

How often do you expect a claim?yrs betweenCollision/comprehensive claims only. Most drivers file one every 8–10+ years.

The higher deductible pays for itself in about 3.3 years — likely worth it if you claim less often than every 8 years.

Recommendation: Take the higher deductible
Premium saved per year with the higher deductible: $150
Extra you'd pay on a claim: $500
Breakeven: 3.3 claim-free years
Cost over one claim cycle — lower deductible: $12,340
Cost over one claim cycle — higher deductible: $11,640

How we calculated this

Premium saving = $1,480 − $1,330 = $150 per year.
Extra out-of-pocket per claim = $1,000 − $500 = $500.
One claim every 8 years, with each claim exceeding the higher deductible.

Only pick a deductible you could pay from savings tomorrow — a deductible you can't cover means a car you can't fix.
Small claims below the deductible are usually not worth filing anyway: they raise rates at renewal for years.

Is your premium competitive?

Your carrier re-prices you every renewal. A 60-second check shows whether your rate is in line — no account, and nothing changes on your policy.

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Estimates for education only — not a quote, not insurance or financial advice. Rates depend on your carrier and state.

CarCoverage Basics is an informational website and advertising-supported lead-generation service. We are not an insurance agency, broker, or carrier, we do not sell insurance, and we do not guarantee any quote, rate, or coverage. Availability, rates, and eligibility vary by state and insurer.