03-03-2017 12:31 PM
Deductible is part of the claim which is to be paid by the policyholder before the insurance company takes the responsibility of the remaining claim.
03-03-2017 12:32 PM
I agree to Hayat, Also that deductibles are of two types: one is Compulsory Deductible In Car Insurance and another is Voluntary Deductible In Car Insurance. The difference is, unlike the compulsory deductible, voluntary deductible is chosen by the policy holder. Also, the higher the deductible amount chosen, lesser is the rate of the premium.