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Deductibles

Understanding Deductibles

An ‘Insurance Deductible’ is a specific amount that the insured (you) must pay before the insurance carrier issues payment for a claim. Essentially, it’s the sum subtracted from an insurance payout.

Application of Deductibles

The highest applicable deductible will be applied in each claim scenario. Your deductible is applied per claim, not per policy period.

For claims involving rented equipment, you’re responsible for paying the deductible amount directly to the rental house or certificate holder.

Deductible Options

When applying for coverage, adjusting deductibles can impact your premium. Opting for higher deductibles can lead to a discount, while lower deductibles increase the premium. Carefully consider the amount you’re willing to pay out of pocket in case of damage or loss.

Available Deductibles
  • Standard Deductible: This is the general deductible applicable to all claims within the United States, excluding theft from a vehicle. Options include $250, $500, $1,000, $2,500 & $5,000.
  • International Deductible:¬†Applicable to claims outside the United States, with options of $500, $1,000, $2,500, and $5,000.
  • Theft from a Vehicle Deductible: Applicable to claims arising from theft from a vehicle, with deductible options of $500, $1,000, $2,500, and $5,000.

For further details or assistance in selecting deductibles suitable for your needs, please contact our support team.