You cannot choose an ideal here; personal preference is the major factor. Higher deductibles would usually translate into less overall costs on one’s insurance plan since you will be paying more yourself once you get to filing for a claim. Lower deductibles, on the other hand, usually get you to spend more on overall insurance. In this case, though, you will spend less of your own resources when you file a claim.
You could go for lower deductibles if you reside in an urban location where car thefts and vehicular accidents are commonplace. If you do most of your driving in an urban area and have been involved in several road accidents, you should get lower deductibles. The reason for getting lower deductibles is the higher percentage of getting into such incidents.
However, if you make your home in a rural location where thefts are rare, and do not spend a lot of time on the road driving, you should choose a higher deductible.
The risk factor is the thing you should focus on before deciding on getting either higher or lower deductibles. Analyze your insurance plan record in the previous years then determine what amount of deductible you prefer to have. Also consider the amount of risk you would like to take.
If you are a defensive driver who has spent thousands of hours on the road and never been in involved in an accident, chances of getting into one are lower. On the other hand, if you have gotten involved in a score of accidents in the last couple of years, chances of getting involved in another one are higher. The bottom line is how much risk you are willing to take while driving on the road.
