If you are tired of reading about money mistakes, you can skip the rest of this chapter if you promise to follow this one rule of thumb: when purchasing insurance, choose the largest deductible available. Of course, there are exceptions to any rule of thumb, including this one. If you are offered a deductible so large that paying it would cause a serious financial hardship, we give you permission to choose a lower one. But in general, people choose a deductible that is too low. In fact, we have a name for this mistake: deductible aversion.
