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Voluntary excess is the amount of money that a policyholder chooses to pay out of pocket when making a claim, which can lower their insurance premium. Compulsory excess, on the other hand, is a fixed amount mandated by the insurer that must be paid by the policyholder in the event of a claim, regardless of any voluntary excess chosen. Together, these excesses influence the overall cost and coverage of an insurance policy. Understanding both can help policyholders make informed decisions about their insurance options.
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What is the difference between compulsory registration and amp voluntary registration?
Compulsory - something you have to do Voluntary - something you can choose to do or to ignore. Breathing is compulsory if you want to stay alive. Eating donuts is voluntary.
What is the antonym of compulsory?
The antonym of compulsory is optional or voluntary.
What is excess and deductible?
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.
What is the Opposite of compulsory?
The opposite of compulsory (compelled) would be voluntary or optional.
What are the types of legal compliance?
Voluntary and compulsory.
What do you mean by compulsory winding up of a company?
What do you understand by "compulsory" and "voluntary" winding up of a company
Compulsory and voluntary deductions?
Compulsory deductions are taken from your check whether you agree or not, such as happens with taxes. Voluntary deductions are those you ask for, such as money to be deducted and placed into your retirement savings account.
What forced the people of Jamestown into compulsory communism?
Do you mean they had no money and no means of coercion?
What is the opposite of voluntary?
The opposite of voluntary would be involuntary (not by choice). If it is by outside force or regulation, the opposite would be compulsory, forced, required, or obligatory.
Are state workers' compensation laws compulsory?
I don't really understand this question. Are laws compulsory? Laws are laws and are certain not voluntary as to whether you obey them or not.
Is military service compulsory in Austria?
Service in the Swiss military is compulsory for all male Swiss citizens aged 19 and it is voluntary for females. The duration of the compulsory service is 18 to 21 weeks.
Was membership of the Hitler youth movement voluntary or compulsory?
It was voluntary in idea but trust me most of the kids felt compelled after being brain washed in school and elsewhere.
