Bogus Fees You Shouldn’t Pay - Page 5
- By
Julia Austin
Source: Srinrat Wuttichaikitcharoen / EyeEm / Getty
Better deductible fees
This varies greatly, depending on the situation, but you should consider what you’re paying out of pocket for insurance each month. Perhaps you want a super low deductible on your car insurance—say, $500. That could shoot your monthly payment up to $350 a month. And you never see that money again. Meanwhile, if you allow for a deductible of, say, $1,500, you may see a nice low monthly payment of $175. Should an accident occur, yes, you’ll be on the hook for an extra $1,000 but that’s only if something happens. Meanwhile, with a low deductible play, you hand over roughly an extra $1,000 (or more) a year in monthly costs that you never get back. Even if you have no accidents.
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