A cursory analysis of Vanishing Deductible Auto Insurance

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I’ve heard the phrase Vanishing Deductible frequently with respect to car insurance. The deal I just got in the mail from Nationwide Auto claims they will take $100 off your deductible for each year of “safe driving”.

The precise definition of safe driving would have to be clearly delineated before I would take the bait on this switch from GEICO to another insurance agent. I wonder if parking tickets or failure to get inspection sticker or a speeding ticket for less than 10 mph over would screw up ones “safe driving” status?

Also, on the back of the insurance offer you see below, the maximum amount that can be subtracted from your deductible is 500 dollars. So the offer effectively only lasts 5 years. Nationwide seems to win on this one as their offer attracts drivers who will not file claims because of their penchant for safe driving. They do claim to also give you a policy with lower premiums, but I doubt they are lower than GEICO.

Finally, the offer you see below was negotiated by Jean Hoffman, Executive Director of the USCF, to induce chess players to consider switching their insurance carrier. Nationwide may make a financial contribution to this United States chess organization for the opportunity to market their products to the 50,000 members of the USCF.

Is Vanishing Deductible Worth it?
Is Vanishing Deductible Worth it?
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