Why might a driver choose to increase their deductible?

Choosing to increase a deductible is often a strategy pursued by drivers looking to lower their periodic premium payments. When a driver opts for a higher deductible, they take on more financial responsibility in the event of a claim. As a result, insurance companies typically offer lower premiums for policies that have higher deductibles because there is less risk for the insurer—fewer small claims are likely to be made.

This approach can be particularly beneficial for drivers who feel confident in their driving abilities and anticipate that they may not need to file frequent claims. By paying less in premiums, drivers can save money on their overall insurance costs while still having coverage for larger claims when necessary.

The other options presented do not directly pertain to the act of increasing a deductible. Potential liability claims are influenced by policy limits rather than deductible levels, enhancing coverage options generally implies adjustments to the policy rather than just the deductible, and fulfilling legal requirements relates to having insurance at all, rather than influencing the deductible amount.