The purpose of a deductible is to serve as a barrier between you and your insurance company. If you're certain to have your deductible on hand at all times, you can pay for some things out of pocket, avoid filing a claim, and keep your insurance premiums low. Depending on your policy, keeping a high deductible-assuming you can keep the deductible in your pocket at all times-can lead to lower premiums and more money saved over the long haul. More »
