An 'Insurance Deductible' is a specific amount the insured must pay before the insurance carrier remits payment. Or, it is the total amount withheld from an insurance payout.
These three deductibles apply to your policy
- Standard Domestic Deductible: This deductible is determined by your policy limit. You cannot adjust this deductible. It applies for all claims occurring within the United States, and not arising from theft from a vehicle.
- International Deductible: this deductible can be determined by the policyholder between $1,000, $2,500 or $5,000. It applies to all claims arising internationally
- Theft from a Vehicle Deductible: this deductible can be determined by the policyholder between $1,000, $2,500 or $5,000. It applies to all claims arising from theft from a vehicle.
- If more than one deductible apples, the larger of the two will be applied to the claim
- Selecting a higher deductible for either/both of the customizable deductibles will result in a premium discount
- Selecting a lower deductible for either/ both of the customizable deductibles will result in a premium increase
- Deductibles apply per claim, not per policy
- Before filing a claim check that your total loss exceeds your deductible amount
** If you will not leave the country during your policy, lower your premium by increasing your International Deductible to $5,000.