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Insurance

What happens to an insurance premium when a deductible is increased?

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Wiki User
01/17/2007

Your premium usually will go down a couple of dollars if you raise the deductible. EX. My deductible was $500 for collision and I changed it to $250. My premium went up $24 every six months. So basically your not going to save that much by increasing your deductible. Unless you have a very bad driving record.