Q: How high of an insurance deductible should I have?

Your insurance deductible is the amount you are responsible for paying out of pocket if you file a claim. If you have a low deductible of $500, your insurance premium will be higher than if you have a deductible of $1,000. When choosing a deductible, it's a good idea to look at the difference in premium at different deductible levels and make a decision based on your current financial position—do you have the deductible amount available in your emergency savings or would a higher monthly payment be a better option?
 
Click here to learn more about Mountain America Insurance.