If you are looking to save some money on the cost of your auto insurance you may want to think about increasing your deductibles. Higher deductibles cost less, insurance for physical damage to your car, also known as collision and other-than-collision, is used to repair damage to your vehicle.   Physical damage deductibles are how much you are required to spend before your auto insurance pays a claim. The more money you have to pay, the lower your rates will be.