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Insurers provide a deductible in a motor insurance so that from every claim this amount is deducted irrespective of the claim quantum. In some policies this is a compulsory deductible depending on the type of car. In some cases a deductible is imposed because of adverse claim experience. In some case the insured is given an option of providing for a deductible. These deductibles are also known as excess - compulsory excess, imposed excess or voluntary excess.
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∙ 15y ago
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AAD stands for what in catastrophe excess loss reinsurance?
Annual Aggregate Deductible
Should you have to pay excess for an accident unmistakenly caused by someone else?
what do you mean by excess? if you mean your deductible if your collision coverage is used regardless of fault you will be deducted your deductible....i need more info/details and i could be of more assistance please...
What is deductible buy down insurance?
A standard insurance policy provides for deductibles (or excess) clause, i.e., a claim is settled by the insurer only in excess of the limits specified under this clause. The insured can buy supplemental insurance to cover a part or full of this "deductible" amount. This supplemental insurance is called deductible buy down insurance.
What is policy excess?
It is the first part of loss that is borne by the insured,sometimes the same isrefereed to as a deductible.
What is an excess waiver?
Most of insurance policies include excesses - minimum amount you'll have to pay in case of an accident. E.g. if your bill is for $300 and your excess is $100, your insurance company will pay just $200. Excess waiver is something you can purchase that, in case of an accident, you will not be liable to pay the deductible/excess.
Are losses on the excess of premiums paid over the amount of the total cash value amount of a whole life insurance policy deductible for income tax purposes?
No.
What is the correct spelling of deductible or deductible?
deductible
WHAT DOES IT MEAN WHEN INSURANCE COMPANY MAKES FULL PAYMENT MINUS A PATIENTS DEDUCTIBLE?
You will need to read the policy for an accurate answer. However a deductible is usually The amount that the insured must pay out-of-pocket before the health insurer pays its share. The equivalent on a motor insurance policy would be the "excess".
Can you switch your deductible to 100 before repairs then back to 1000 after the work is done?
Is this what we would call in the UK 'voluntary excess' on an insurance policy? Your insurance company may allow you to change your excess mid-term but you will probably have to pay an 'additional premium' as you will most likely have received a discount when you took the insurance policy out for choosing a higher excess in the first place. Your insurer may get suspicious if you do this then immediately make a claim or they discover that an accident for which you are making a claim took place before you requested a change in your excess. This may result in your claim being rejected. Carefully consider the excess or deductible when you choose your insurance policy. If you choose a higher excess at the start to obtain a discount on your policy then you should be prepared to pay out in the event of a claim. CQ
Is it deductible or deductible?
It is "deductible," except in Australia, where it's spelled "deductable."
Which type of deductible requires a new deductible for each separate claim?
Straight Deductible
Do you have to pay the deductible if you hit another car?
If your policy contains a Deductible clause then yes you will have to pay your deductible.
