When getting a car insurance quote comparison, you may find yourself wondering how a deductible affects the premiums you pay.

You should always get quotes from more than one auto insurance agency when shopping for a new car insurance policy. To make accurately compare car insurance quotes, however, you will need to make sure you’re comparing policies with the same level of coverage and the same deductible.

Factors Affecting Car Insurance Rates

There are many different factors that affect the rate you pay for your car insurance.

The type of car you drive is an obvious one, since drivers with more expensive vehicles are likely to make higher value claims. Where you live also impacts your auto insurance rates, as drivers in urban areas are more likely to be victims of auto-related theft or vandalism. Your driving history, age, and even your marital status can also affect how much you pay for your policy, as statisticians have been able to link all of these factors to the likelihood a driver will be involved in an auto accident.

You can’t change many of the factors that affect your auto insurance rates, but you can try to get the cheapest car insurance by choosing a high car insurance deductible. The deductible is the amount you’ll be expected to pay out of pocket if you need to make a claim on your comprehensive or collision insurance. Deductibles typically range from $100 to $1,500, with high deductible insurance being the most affordable option.

However, you will need to keep in mind that you must come up with this money fairly quickly in the event of an accident. If you don’t have an emergency fund with enough cash to cover your deductible, you could face some serious transportation issues.