If you are looking for ways to cut your car insurance premiums, you might be thinking about raising your deductibles. After all, this can be a fast and easy way for you to quickly reduce the amount that you have to pay for your car insurance. Even though this can be a good idea in some situations, it's not always ideal. These are a few things that you should do before you take the plunge and talk to your insurance agent about raising your car insurance deductible.

1. Check with Your Lender

If your car is paid for, you shouldn't have to worry about checking with anyone first before raising your car insurance deductible. However, if you are making payments on your car, it's important to check the paperwork from your lender or talk to someone from your loan company before doing so. This is because many lenders have requirements about the levels of coverage that you have to have and the deductibles that you have in place. You might find that you will get in trouble with your lender if you raise your deductible above these limits.

2. Consider How You'll Pay Your Deductible

It might be tempting to raise your deductible right now, but you might regret it later. After all, the deductible is the amount that you will have to come up with in the event that you get into an accident, and you never know when that might happen, even if you are a very careful driver. It's important to consider how you'll pay your deductible if you find yourself in this situation. For example, it might not be too difficult for you to come up with $500 in an emergency to pay your deductible, but you might have a hard time coming up with $1,000. It's important to think about this so that you don't find yourself in a too-tight spot in the event that you get into an accident.

3. Compare Rates

Also, make sure that you check what your rates will be if you raise your deductible. Insurance companies and situations vary, so you might save a little or a lot by raising your deductible. Compare the two rates so that you can see if it's worth it.

As you can see, there are a few things that you should do before raising your car insurance deductible. Then, you can determine if it's a good idea or not. For more information, check out a site like http://www.unitedsecurityagency.com.