Last week I counted how many different car insurance companies commercials there were on television. Of course, I was not watching every station at the same time but I think that I counted ten different car insurance companies commercial in about two hours. That seems a little excessive to me but with all that competition, then insurance rates should be very competitive.

My current insurance company sent me the car insurance rates for three of their competitors when I requested a quote from them. They were a little higher than one of the other car insurance companies but they offered me a lower deductible. I will never forget the time I went with a company that had really low car insurance rates but my deductible was really high and when I had an accident, I had to borrow the money for my outrageously high deductible to pay it. I will never put myself into a situation like that again.

Since that awful experience, I now know that a little bit extra each month can go a long way when it comes to having a lower deductible, just in case you need to file a claim. Now, if you can afford a high deductible then you should go for the lower premium.