Insurance Savings Calculator
Calculate potential savings from adjusting deductibles or bundling policies.
Raising your deductible typically lowers premiums, but increases out-of-pocket costs when you file claims. This calculator compares premium savings against expected additional deductible expenses. If you rarely file claims, higher deductibles often save money over time. If you file claims frequently, the extra deductible cost may exceed premium savings. The net savings shows which option works better based on your claim history.
Calculator
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Net Annual Savings
$200
Current Annual Premium
$3,000
New Annual Premium
$2,550
Premium Savings
$450/yr
Added Deductible Exposure
$500
Expected Extra Claim Cost
$250/yr
Net Benefit
$200/yr
Common use cases
- Premium reduction estimates vary by carrier and policy
- Claims frequency is an estimate based on history
- Does not account for one-time large claims
- Savings should be set aside to cover higher deductible if needed
This tool provides general informational estimates and is not insurance advice or a quote.