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How to Pick Your Insurance Deductible

When you buy an insurance policy, looking for ways to save money on your monthly premium payments can be a top priority. Whether you are purchasing auto, health, or home insurance, you can choose to have a higher deductible to lower the price of the cost of the plan. However, the possible financial risks of a high deductible can outweigh the money you are saving every month with a lower insurance bill. Being required to pay a large amount at once may even cause someone to declare bankruptcy. At Elite Insurance Solutions, our clients often ask us how to pick an insurance deductible. While our recommendations vary from client to client, we would like to share with you some information from BankRate on how to choose a deductible that makes the best financial sense for you and your family.


What exactly is a deductible?

An insurance deductible is the amount of money you must pay out-of-pocket before your insurance policy begins to cover your costs. Depending on the policy, a deductible can range from a few hundred to thousands of dollars. Generally, the more money you are willing to pay each month on your premium, the lower your deductible.

What should I consider when choosing a deductible for an auto insurance policy?

How much money you can save by raising your auto insurance deductible depends more on the type of coverage you have. Since your comprehensive coverage pays for damage from theft, natural disasters, and other things beyond your control, having a lower deductible for that part of your car insurance policy can actually save you more money if an incident were to occur. However, when it comes to collision coverage, it can be financially smart to have a higher deductible, especially if you are a driver under the age of 50 with safe driving habits. Raising the deductible on your collision coverage can allow you to save up to $300 a year on your auto insurance premiums.

How big are the differences in home insurance premiums with a higher deductible?

When it comes to home insurance, the amount of money you will save by raising your deductible is relatively small. When choosing the deductible amount for your homeowner’s insurance policy, it is more important to think about the amount of money you could afford to spend in the event of an emergency.

What about health insurance?

Since preventive care is free under the Affordable Care Act, a healthy person with no young children can save quite a bit of money every month with a high-deductible health insurance plan. The main reason for this savings is that the premiums for a low-deductible plan can cost twice as much each month. However, families with small children and those with chronic illnesses can save more money in the long run with a health insurance policy with a lower deductible. Most importantly, as with homeowner’s insurance, you should be comfortable paying the amount of the deductible if a medical emergency were to happen.

No matter the category, choosing the best insurance deductible can be a complicated decision. Contact Elite Insurance Solutions to ask our experienced agents to help you make the right choice.

Why We Are Proud to Protect Nashvillians

The rest of the world has discovered our secret! Nashville is quickly becoming one of the best cities in the country to call home, and people from all over are moving here to be a part of our cool town. The statistics and press speak for themselves. According to Livability, Travel + Leisure ranked Nashville third on its list of Best American Cities, Forbes.com ranked the city fifth on its U.S. Regions to Watch in 2014 list, and 35,000 people are moving here every year! At Elite Insurance Solutions, we have watched our beloved Nashville change and grow over the years, and we are always proud to say we help Nashvillians with all of their insurance needs. We would like to share with you some of the best things about Nashville so you can see why we love protecting the citizens of this beautiful city.



Thanks to the more than 120 live music venues in Nashville, you can choose between seeing pop, rock, country, gospel, rap, blues, and Americana acts all over town on any given night. You may be lucky enough to catch someone famous at The Bluebird Cafe in Green Hills or even discover someone new at one of the many writers’ nights in Nashville. If you prefer classical music, we have the acclaimed Nashville Symphony, who performs in the recently-built architectural wonder, the Schermerhorn Center. You can also find opera, ballet, and jazz in our city.


Listed by USA Today as one of 10 cities with the Best Green Urban Spaces in North America, Nashville is home to many parks, trails, and greenways. You can find horse trails, nature centers, picnic shelters, athletic fields, swimming pools, golf courses, and scenic views. One of the best things about Nashville is downtown is just 10 minutes away from beautiful rolling hills, farms, and other country settings.


We feel very fortunate to enjoy Nashville’s food scene. Our restaurants are constantly visited by newspapers, magazines, and cable food channels to feature our best food options. Our cuisine ranges from hot chicken at Bolton’s to fluffy biscuits at the Loveless Cafe to high-end restaurants with inventive chefs like Husk and City House. For an area filled with some of the best locally-owned restaurants, visit the East Nashville neighborhood for a variety of refreshing non-chain dining establishments.


One of Nashville’s nicknames, the city is the home to 21 four-year undergraduate and post-graduate colleges and universities. Vanderbilt University, Tennessee State University, and Belmont University are among the choices. One of the best public universities in the state, Middle Tennessee State University, is located about 30 miles away in Murfreesboro.


A very typical Southern town, you will always find friendly faces in Nashville. We love our small town feel mixed with the excitement of big city energy. Nashville is a very welcoming community, and we are proud of the cultural diversity that you will find in our city.

Want to know more of our favorite things about Nashville? Contact Elite Insurance Solutions today to learn more about our wonderful city.