Best Car Insurance with a $1,000 Deductible (2024)

You’ll pay more out of pocket with a $1,000 car insurance deductible if you need to file a claim. But the trade-off is lower monthly premiums.

Sarah Sharkey
Written bySarah Sharkey
Sarah Sharkey
Sarah SharkeyInsurance Writer
  • 7+ years writing insurance and personal finance content

  • Contributor to top media, including USA Today

A passionate personal finance advocate, Sarah’s writing has graced the pages of many of the personal finance and insurance industries’ top web publications.

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Katie Powers
Edited byKatie Powers
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Katie PowersAuto and Life Insurance Editor
  • Licensed auto and home insurance agent

  • 3+ years experience in insurance and personal finance editing

Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.

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Updated June 16, 2024

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Cheapest recent rates

Drivers have found policies from National General, CSAA, Just Insure, and more, for rates as low as $35/mo. through Insurify

*Quotes generated for Insurify users within the last 10 days. Last updated on June 12, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from June 12, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

*Quotes generated for Insurify users within the last 10 days. Last updated on June 12, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from June 12, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

Your car insurance deductible might feel unimportant in comparison to your premium until it’s time to file a claim. You’ll need to pay the deductible after you file a claim before your insurance company covers the remaining costs.[1] Accidents happen when you least expect them, so you should make sure you can cover your deductible at any time.

Certainly, Travelers, and Nationwide offer some of the cheapest average monthly quotes for a full-coverage policy with a $1,000 deductible.

Quick Facts
  • A deductible is the amount you pay toward an insured loss.

  • A higher deductible typically results in lower insurance premiums.

  • You can find full-coverage car insurance with a $1,000 deductible for less than $200 per month.

What is a $1,000 deductible, and how does it work?

A car insurance deductible is the amount of money you pay out of pocket after you file a claim.

For example, if you get in a car accident that results in $2,500 in damage and file a claim to repair your vehicle, you’ll need to pay your $1,000 deductible. After you pay the deductible, your insurer covers the rest of the damage. In this case, the insurance company would pay the remaining $1,500, or up to the coverage limits on your policy.

As a driver, you should have easy access to your deductible funds in case an accident occurs. Otherwise, you could be stuck in a difficult financial position.

Most insurance companies offer a wide range of deductible options. For example, you might find deductibles ranging from $100 to $2,000. A $1,000 deductible qualifies as a relatively high deductible.

Opting for a $1,000 deductible comes with one obvious disadvantage: needing to come up with this cash in a hurry after filing a claim. But opting for a higher deductible usually comes with a lower monthly insurance premium.

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How much does car insurance with a $1,000 deductible cost?

In general, setting a higher deductible leads to cheaper insurance premiums. The reverse also holds true, with a low deductible leading to higher insurance costs. But the exact cost of your car insurance policy will vary based on several other factors, including your age, policy type, driving record, location, and more.[2]

For example, you’ll likely pay more for a policy that includes collision coverage and comprehensive coverage than you would for just liability insurance.

Every insurer takes a slightly different approach to evaluating the factors that influence your insurance costs, so these costs vary across insurers. Shopping around for an insurance policy with a $1,000 deductible will help you find the cheapest coverage for your insurance needs.

Certainly offers the cheapest average quote for full-coverage insurance with a $1,000 deductible, at $135 per month. On the costlier end, Direct Auto offers average quotes for full coverage at $291 per month.

Insurance CompanyAverage Quote: Full CoverageInsurify Quality Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
Certainly$135N/A
Travelers$1744.3
Nationwide$1824.1
Elephant$1923.6
Clearcover$1972.9
Plymouth Rock$199N/A
Safeco$2023.8
SafeAuto$2093.0
Progressive$2304.1
National General$2353.5
Mercury$2463.6
Midvale Home & Auto$2493.2
Liberty Mutual$2793.8
Direct Auto$2913.2
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
  • Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1-to-5 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 28,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Best car insurance with a $1,000 deductible

For many people, the best car insurance option prioritizes affordability. After all, car insurance is an unavoidable cost that drivers have to fit into their budgets. At $135 per month, Certainly has the cheapest average full-coverage rates with a $1,000 deductible, but the company only operates in a handful of states. You can find other relatively affordable options through Travelers and Nationwide, which have availability across the country.

Certainly

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
Not rated
A.M. Best
A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).
Not rated

Certainly offers auto coverage in Arizona, Illinois, Tennessee, and Wisconsin. Though the company writes and manages your policy, Certainly receives financial backing from Liberty Mutual. Drivers in most states won’t have access to Certainly. If you do live in one of the states Certainly covers, you might lock in attractive rates.

Pros
  • 24/7 online claims and support

  • Financially backed by Liberty Mutual

  • Customizable coverage

Cons
  • Available in only four states

  • No discounts advertised

  • Limited customer feedback available

Travelers

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.5
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
829
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$89/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$195/mo

Travelers offers car insurance coverage to drivers across the country. In addition to the relatively low average car insurance rates, you’ll also find many discount opportunities. A few of the options available include safe driver, new car, homeownership, early quote, and multi-car discounts.

The long-standing company earned an Insurify Quality Score of 4.3 out of 5. On average, quotes from Travelers for a full-coverage policy with a $1,000 deductible average $174 per month.

Pros
  • A++ (Superior) A.M. Best rating

  • Wide range of coverage options

  • Highly rated mobile app

Cons
  • Low average customer ratings on Better Business Bureau website

  • Below-average score in 2022 J.D. Power U.S. Auto Claims Satisfaction Study[3]

  • Rideshare coverage options limited to Colorado and Illinois

Read our Travelers review
Kevin - June 15, 2024
Verified

Travelers Insurance Excellent Online Tools

The only issue was that the rate increased too much when new drivers were added.

Kevin - June 14, 2024
Verified

Looking for Another Company

It's not worth the money. My rate went up by almost $550 in less than a year.

Dorothy - June 6, 2024
Verified

Travelers Insurance

Travelers has been my insurance company for over 10 years and I am very satisfied.

Nationwide

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.4
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
815
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$84/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$185/mo

Nationwide offers relatively affordable full-coverage policies with a $1,000 deductible, at an average of $182 per month. Although the company earned a below-average score of 868 out of 1,000 points in the 2022 J.D Power U.S. Auto Claims Satisfaction Study, it did earn an Insurify Quality Score of 4.1 out of 5.

In addition to affordable rates, you’ll find ample discount opportunities to decrease your premiums further. For example, you can get a discount for bundling policies, taking a defensive driving course, being a safe driver, or getting good grades.

Nationwide doesn’t offer coverage in every state, though. The company doesn’t currently operate in Alaska, Hawaii, Louisiana, or Massachusetts.

Pros
  • A+ (Superior) A.M. Best rating

  • Long list of discounts

  • Extensive coverage options

Cons
  • Some features unavailable in some states

  • Coverage not available in every state

  • Low average customer ratings on Better Business Bureau website

Read our Nationwide review
Nikolai - June 15, 2024
Verified

Pricing

It's all good, but too expensive now!

Susan - June 14, 2024
Verified

I can't afford this insurance anymore.

The rates keep rising, but my pay doesn't. I can't afford the insurance anymore.

Huy - June 10, 2024
Verified

Excellent

Excellent

How Insurify’s experts used internal proprietary data to rate the top auto insurers

Data scientists at Insurify analyzed more than 40 million real-time auto insurance rates from our partner providers across the United States to compile the car insurance quotes, statistics, and data visualizations displayed on this page.

The car insurance data includes coverage analysis and details on drivers' vehicles, driving records, and demographic information. Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Service’s database of auto insurance rates.

With these insights, Insurify is able to offer drivers insight into how companies price their car insurance premiums. The data included on this page represent averages across all driver ages, gender, credit scores, and driver profiles.

$1,000 deductible vs. $500 deductible: Which should you choose?

“If you have a higher deductible, you’ll have a reduced monthly premium, so for some drivers, the benefit of paying less each month outweighs the risk of paying more in the instance of a claim,” says P.J. Miller, partner and independent insurance agent with Wallace & Turner Insurance.

However, if you choose a $1,000 deductible, you should make sure you have easy access to the funds at all times. When you file a claim, you need to have those funds ready. Setting a $1,000 deductible might not work for a driver without easily accessible savings. If you aren’t sure you’d have the funds to pay your deductible, you should consider an insurance policy with a $500 deductible instead. 

Other ways to lower car insurance costs

Lower premiums are the biggest appeal of an insurance policy with a $1,000 deductible. But if you don’t want to take on an insurance policy with a high premium, you can use other strategies to lower your insurance costs, including:[4] 

  • Ask for a discount. Many insurance companies offer discounts on their policies. A few popular discounts reward safe drivers, households with multiple vehicles, and people who bundle multiple policy types.[5]

  • Build your credit. In general, drivers with good credit pay less for car insurance than drivers with poor credit. Focus on paying your bills on time to improve your credit over time.

  • Shop around. Every car insurance company evaluates risk and calculates premiums in a different way. If you shop around, you can find the best rates for your situation. An online quote-comparison tool makes this task easy.

Cheapest recent rates

Drivers have found policies from Elephant, State Farm, Farmers, and more, for rates as low as $35/mo. through Insurify

*Quotes generated for Insurify users within the last 10 days. Last updated on June 12, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from June 12, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

*Quotes generated for Insurify users within the last 10 days. Last updated on June 12, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from June 12, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

$1,000 car insurance deductible FAQs

Deciding on the right deductible for you is important. You’ll find more information below if you still have questions about car insurance policies with a $1,000 deductible.

  • Is it better to have a higher car insurance deductible?

    Drivers tend to save money on car insurance premiums when they choose a higher deductible. Despite the enticing savings, choosing a higher deductible makes sense only if you have easy access to the funds you’d need when filing an insurance claim.

  • If you have a $1,000 deductible, can you change it to a different amount?

    If you want to change your deductible, you can do so by contacting your insurance company. However, a change to your deductible will likely affect your policy’s premiums.

  • How often can you change your car insurance deductible?

    You can adjust your car insurance deductible at any point. If you’re lowering your deductible, be prepared to pay a higher premium. But you can’t change your deductible for an accident that has already occurred.

  • Which company has the cheapest full coverage with a $1,000 deductible?

    Certainly offers the cheapest full-coverage policies with a $1,000 deductible, at $135 per month, based on Insurify data. Other companies offering average monthly premiums below $200 include Travelers, Nationwide, Elephant, Clearcover, and Plymouth Rock.

  • Can you get a car insurance policy with zero deductible?

    You can get a zero-deductible insurance policy in some states. If you opt for a zero-deductible policy, you’ll likely pay higher premiums than someone who chooses a policy with a deductible.

Methodology

Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.

Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).

Liability-only premium averages correspond to policies with the following coverage limits:

  • Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
  • Property damage limits between $10,000 and $50,000
  • No additional coverage
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
  • Comprehensive coverage with a $1,000 deductible
  • Collision coverage with a $1,000 deductible

Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.

Sources

  1. Insurance Information Institute. "Understanding your insurance deductibles."
  2. Insurance Information Institute. "What determines the price of an auto insurance policy?."
  3. J.D. Power. "Insurers Struggle to Manage Expectations in Auto Claims Process as Repair Times Increase, J.D. Power Finds."
  4. Insurance Information Institute. "How to save money on car insurance."
  5. Insurance Information Institute. "Nine ways to lower your auto insurance costs."
Sarah Sharkey
Sarah SharkeyInsurance Writer

Sarah Sharkey is a personal finance writer who enjoys helping people make savvy financial decisions. She covered insurance and personal finance topics. You can find her work on Business Insider, Money Under 30, Rocket Mortgage, Bankrate, and more. Connect with her on LinkedIn.

Katie Powers
Edited byKatie PowersAuto and Life Insurance Editor
Photo of an Insurify author
Katie PowersAuto and Life Insurance Editor
  • Licensed auto and home insurance agent

  • 3+ years experience in insurance and personal finance editing

Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.

Featured in

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