Hey! Let's talk about insurance deductibles.

In a nutshell, high deductible equals low premium, but higher risk. Low deductible equals higher premium, but less risk.

So here are the details:

A premium is how much you pay each month for your insurance policy, while a deductible is how much you pay before your insurance kicks in.

This applies to auto insurance, health insurance, homeowner's insurance and business insurance.

Say you need a $10,000 surgery. With a low deductible policy, you may have to pay $300 every month in premiums, but you’ll only have to pay a $500 deductible for the surgery. With a high deductible policy, you might pay only $50 every month, but you might pay $3,000 for the surgery.

It’s important for you to choose the insurance policy that best meets your financial goals, your needs, and your tolerance for risk, so that you can get the most coverage for what you pay. See you next time on Money Matters!

Help Center

  • Lost or Stolen Debit or ATM Card

    1.855.ASK.SBANK (1.855.275.7226)

  • Lost or Stolen Credit Card


  • 24 Hour Emergency Roadside Assistance

    Lock your keys in your car? Car won’t start? Call 1.833.278.1576. It’s free to use up to $80 in service charges. (For GOLD accounts with BaZing Only.)

  • Reorder Checks

    Click Here. Safe & Secure check ordering through Deluxe, our preferred check printer.

  • Customer Care Center

    1.855.ASK.SBANK (1.855.275.7226)
    Mon-Fri 8am-7pm Sat 9am-1pm Treasury Services Support availableMon-Fri 8am-5:30pm Closed Sun & federal holidays

Online Banking

Don’t have Online Banking? Sign Up