The Wisdom of the Crowds for Deductibles
Sometimes looking at what other users are choosing can help you determine whether you are making the right choice. Of course, there may be good reasons for why you should select something different from the crowd. Looking at EverQuote data, we can break down the quotes that many users have gotten based on their deductible choices. Some of the key takeaways from the following chart are as follows:
- For vehicles 15 years or older, more than half of the consumers choose to go without any coverage for collision or comprehensive.
- For much older vehicles, 20% of the consumers still choose some form of coverage.
- Fairly consistently about 12-15% of consumers for the first 15 years choose to have a higher collision deductible than a comprehensive deductible.
| No Collison or Comprehensive Coverage | 2% | 2% | 3% | 4% | 4% | 2% | 6% | 7% | 12% | 11% | 17% | 23% | 28% | 34% | 51% | 50% | 60% | 61% | 68% | 82% | 69% |
| No Collision Coverage | 1% | 0% | 0% | 0% | 1% | 1% | 0% | 0% | 0% | 0% | 1% | 0% | 1% | 3% | 4% | 4% | 4% | 4% | 1% | 1% | 5% |
| More Comprehensive than Collision | 3% | 3% | 6% | 5% | 5% | 6% | 5% | 5% | 7% | 5% | 6% | 3% | 5% | 3% | 1% | 2% | 2% | 0% | 1% | 0% | 1% |
| More Collision than Comprehensive | 8% | 16% | 15% | 13% | 21% | 15% | 22% | 12% | 15% | 16% | 15% | 17% | 12% | 12% | 7% | 8% | 10% | 7% | 4% | 1% | 2% |
| Same | 86% | 79% | 75% | 78% | 69% | 76% | 68% | 76% | 67% | 68% | 61% | 56% | 54% | 47% | 37% | 37% | 23% | 28% | 26% | 16% | 23% |