You’ve seen this commercial for Nationwide Insurance, right?

I can’t be the only one who thinks it’s generally asinine, but let me explain why.

Their deal is if you’re a good driver, your deductible goes away, over time. Which only matters if you have a wreck; if you crash, there’s no deductible to meet on your collision coverage.

You’re still paying the same premium, and the only way to take advantage of this cool feature of your policy is to crash, wipe out.

Let’s say you had a $500 deductible. If they lowered your premium $100 a year, in 5 years you’d save enough to vanish your deductible all by yourself.

It’s a stupid sales pitch.

Thanks for letting me share that.