Scenario: I pay X amount of dollars per month for car insurance. I have all 4 tires stolen from my vehicle overnight. I submit a claim with my insurance company to repair any damages. I now pay a **hefty** X amount of dollars for the event that has occurred.
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It keeps people from driving like psychos and then submitting 10 claims a year due to their own negligence. “Whoops, I slammed into another curb! I guess I’ll have to file another claim for the insurance company to pay out $7,000 worth of damage.”
You can pay a balance between premiums and deductibles. Like I have a $1,000 deductible instead of $500 so my monthly payments are lower. As you are willing to front more money, you’re going to drive more carefully.
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