9 insurance mistakes clients make
"Raising your deductible is the best way to keep your premiums down," says Amy Bach, executive director of United Policyholders, a policyholder advocacy group. Even if you can afford the expensive premiums of a low-deductible policy, it should ultimately cost less to choose a high-deductible policy and create a bank account to insure your own small losses. Insurance should be for "catastrophic losses," says Rutgers professor Feinman. For anything less, "it often makes sense to absorb those yourself."