Deductibles

A deductible plays a crucial role in insurance, representing the amount withheld from any claim payment and what you’re required to contribute towards any covered claim loss. Here’s a breakdown to help you grasp the concept:

Application of Deductibles

• The highest applicable deductible is applied in each claim scenario
  • For example, if you experience a theft from your vehicle while in another country, please consider your special deductibles. If your deductible for theft from a vehicle is $5,000 but your international deductible is $1,000, the $5,000 deductible will apply in this case.
• Deductibles are applied per claim, not per policy period or item.
• For claims involving rented equipment, you are responsible for paying the deductible amount directly to the rental house or certificate holder.

Deductible Options

• Adjusting deductibles during the coverage application process can influence your premium. Opting for higher deductibles can result in a discount, while lower deductibles may increase the premium.
• Carefully consider the amount you’re comfortable paying out of pocket in the event of damage or loss.

Available Deductibles

Standard Domestic Deductible Options:

• $250, $500, $1,000, $2,500, and $5,000.

International Deductible Options:

• $500, $1,000, $2,500, and $5,000.

Theft from a Vehicle Deductible Options:

• $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.