Is it worth it to take a higher deductible? Why give the insurance company more than you need to? Sometimes it does make sense to take a higher deductible and take more risk upon yourself. Taking a higher deductible is a two sided coin: On one side, taking a higher deductible will save you money on your insurance premium. On the other side, if you have a claim, you would need to pay the higher deductible. This analysis will help you decide if it would make sense to take a higher deductible. Lower Deductible: Higher Deductible: Higher amount that you will pay if you have a claim (higher deductible minus the lower deductible): If you take a higher deductible, you save money. This is the amount that you save every year by taking the higher deductible: Type a number in this box. If you don't have an insurance claim in this number of years, this is the amount of extra money that you will have in your pocket.