How do you lower the deductible on an auto insurance policy?

There are typically two types of excess: compulsory deductible and voluntary deductible.

Compulsory deductible is a mandatory deductible that you need to pay every time you make a claim. The amount of the deductible associated with your insurance depends on the terms of the policy you buy and your individual risk profile. The only way to avoid paying a compulsory deductible is by finding an insurance provider that is willing to forgo it.

Voluntary deductible is the amount which you volunteer to pay every time you make a claim. You are able to adjust the amount of this deductible up or down as you see fit. Through this mechanism the insurance company give you a discount on your premium–meaning, the higher your voluntary deductible, the lower your premium. Every time you make a claim, you will have to pay the voluntary deductible in addition to the compulsory deductible.

You will need to select a voluntary deductible amount that balances your appetite for accident risk and desired insurance policy price.