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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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โˆ™ 2008-04-29 10:49:12
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Q: What is excess and deductible?
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Related questions

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.

What is the correct spelling of deductible or deductible?


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?


Which type of deductible requires a new deductible for each separate claim?

Straight Deductible

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


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".

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.

How do you spell deductible?

That is the proper spelling of the word deductible.

What is the average deductible for antiques insurance?

The average deductible varies depending on your company. However, on average, the deductible is about $1000.

Does a deductible apply for hitting a deer?

Yes! I did it and had to pay my deductible.

WHEN health insurance deductible?

WHEN WHEN when is health insurance deductible paid when? When?

If you have an accident before the deductible is lowered but the claim is not filed until after which deductible applies?

The deductible at the time of the accident not the time of claim.

What is deductible for?

When you have a deductible in your plan, before your insurance starts paying for the coverage, you have to meet the deductible after which the insurance starts paying its portion.

Is college tax deductible?

No, it is not tax deductible, but there are credits for education that are available. And the interest rate of college loans is tax deductible.

How does your deductible work in home insurance?

The amount of a policy deductible on a homeowners insurance policy is chosen by the policyholder. Your policy deductible is the amount you are responsible for paying before the insurance company will payout for a claim. If you experience a loss to your dwelling or your personal property, your homeowners insurance policy deductible applies. The deductible does not apply to other coverages on the policy. If you experience a loss under your deductible, you will not be eligible for a payout. If your loss exceeds your deductible, your deductible will be deducted from your claims payout check.

Does your auto insurance deductible cover your car and the car that you hit in an accident?

You do not pay a deductible for the car that you hit. Your liability coverage does not have a deductible.

Is sponsoring a softball team Tax deductible?

No, I do not belive it is tax deductible

How does the deductible work?

Your deductible is the portion of the loss that you are responsible for paying yourself.

Do Hospitals have a deductible?

Yes you usually have a deductible amount that you have to pay to the hospital.

Barry's income tax showed non deductible entertainment expenditure for 1512 can you explain non deductible tax?

Is entertainment expenditure deductible? If non, are there any circumstances whereby it is deductible, and if so, when are these circumstances valid?

Do you have to pay a deductible if your car is stolen?

Yes. You would have to pay what your comprehensive deductible is.