Car Insurance Deductible Calculator

Reviewed by: David Chen, CFA
Expert in financial planning with over 10 years of experience helping individuals make informed insurance choices.

Enter your car insurance details to calculate how changing your deductible will affect your annual premium and out-of-pocket costs in case of an accident.

Car Insurance Deductible Calculator

Current Annual Premium ($) Current Deductible ($) New Deductible ($) Accident Repair Cost ($) Estimated Premium Reduction (%) Estimated Annual Savings ($) Out-of-Pocket After Accident ($)

Not calculated yet.

Car Insurance Formula

Annual Savings = Premium × Reduction%

Out-of-Pocket = Min(Repair Cost, New Deductible)

Formula Source

Frequently Asked Questions (FAQ)

What deductible saves the most?

Higher deductibles like $1,000 or $1,500 usually offer the biggest savings.

Does deductible affect coverage?

No, only how much you pay out-of-pocket before insurance kicks in.

How often can I change my deductible?

Usually anytime before your policy renews—contact your insurer.