Have you taken out an auto, home or mutual insurance policy and are wondering about the deductible?
The deductible corresponds to an amount that remains payable by you following a claim or treatment.
We guide you to know what the deductible is when it comes to insurance contract and the cases where it is not applicable!
What is an insurance deductible?
The insurance deductible corresponds to the amount that the insurer does not cover in the event of a claim.
In concrete terms, when you are the victim or responsible for a claim, you sometimes have to pay part of the costs incurred.
The supplement is reimbursed by your insurer.
The majority of insurance contracts include a deductible statement which differs according to the guarantees or the formulas taken out.
In short, there are contracts without a deductible, which therefore have a significantly higher premium.
car insurance deductible
The amount of the deductible is generally proportional to the risk incurred and the expenses that will be linked to a claim.
In this logic, in car insurance, the glass breakage deductible will be lower compared to the deductible in the event of replacement of a vehicle (damaged or burned) for example.
I compare the contracts to insure my car according to the deductible
health insurance deductible
As for the mutual, the deductible may apply for certain costs, in particular drugs or tests.
Its amount varies in the contract.
Reason for which, it is necessary to read its insurance contracts well... In certain cases, one speaks also of remainder with load for certain care.
This is why it is sometimes advisable to opt for additional health insurance, which can cost you less than the rest of the cost, especially for dental care.
Who pays the insurance deductible?
For car insurance, in the event of an accident for which you are liable, your insurance company will estimate the amount of damage caused and define the total amount of compensation.
From this amount, the insurer then deducts the deductible stipulated in your insurance contract.
In the event of a not-at-fault accident, you have no deductible to pay and receive the full amount of compensation.
Regarding accidents with shared responsibility, the insurer can decide to apply the deductible or divide it in two.
What are the different types of insurance deductible?
In the insurance market, there are several types of deductible:
The fixed insurance deductible which is used the most.
It sets an amount determined when subscribing to the contract which will be deducted in the event of the claim concerned.
The simple insurance deductible provides compensation for the insured only if the amount of damage exceeds that of the deductible.
If this is the case, the insured receives the full compensation.
The proportional insurance deductible which applies according to a percentage on the amount of damage caused.
Below this threshold, the insurer pays no compensation.
The deductible in days corresponds to a number of days during which you do not benefit from your guarantee or compensation.
How to avoid paying the deductible?
Some insurance companies offer contracts without deductibles.
On the other hand, the insurance premium will be significantly higher than a contract with a deductible.
This situation corresponds to the repurchase of deductible which then allows a total compensation in the event of disaster.
Advice: before deciding to take out an insurance contract without deductible, you must assess what is most profitable for you according to your situation.
The repurchase of deductible is often applied during the rental of a car in order to best protect the driver in the event of an accident or a collision at fault.
I'm changing car insurance so as not to pay a deductible
Do not confuse deficiency and deductible in insurance
Please note that the insurance deductible period differs with the waiting period.
The waiting period designates the period during which the guarantees taken out do not apply and takes effect on the signing of the contract.
The deductible period, meanwhile, corresponds to a period that applies after the claim.
Do not hesitate to compare insurance contracts online with a comparator that does all the steps quickly and free of charge for you.