Insurance pricing is generally fairly straightforward — if a customer wants lower premiums they'll likely have to accept a higher deductible.
But, according to a new study from insuranceQuotes.com, those savings can vary widely depending on where the insured lives.
"It's very interesting to see that in some states raising your deductible gives you a huge savings and in others it barely moves the needle," said Laura Adams, senior analyst with insuranceQuotes.com, in a statement announcing the results. "In some states, you can save hundreds of dollars each year by signing up for a higher deductible, but in others, the reward is so small that it doesn't make sense to risk the higher deductible. This is a good reminder that doing a little research and knowing what's available to you can really pay off in the long run."
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