Anika Begay
2. Opt for a Higher Deductible—But There’s a Catch
Raising your deductible is a tried-and-true method for lowering your monthly premiums. The higher your deductible, the less you’ll pay each month. However, there’s a crucial factor to consider: do you have enough in your emergency fund to cover the higher out-of-pocket cost if you need to file a claim? The answer might surprise you—and make you rethink your deductible decision.
