Quote:
Originally Posted by rjm1cc
The 8 year observation is important. The same can apply to other special insurance policies. If you save the premiums you will probably not exceed the repair cost in your lifetime. For example I cruise a lot and never get insurance. Never had a claim so if I have one in the future I will still be ahead from past self-insuring. Remember insurance is for repair costs you can not afford.
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Thanks. I can afford a $1,000 or even $2,000 hit, as long as it isn't too often. People should look closer at the deductibles they pay for auto/home insurance. Is that $250 deductible really worth the extra you pay to have it? If you really can't afford a $250 hit, maybe you should look at other expenses you have (cable, internet, eating out, entertainment, etc) and see if there are some areas you can cut.
Of course, if there isn't that much difference in the premium, maybe the $250 deductible can be a good deal, but your insurance agent can quickly let you know the difference.