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Contributor
Rahul Verma
Posts: 27
Registered: ‎23-08-2017

What is a deductible in travel Insurance? Why is this necessary?

What is a deductible in travel Insurance? Why is this necessary?

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Accepted Solutions
Regular Contributor
Arti
Posts: 176
Registered: ‎30-08-2021
Solution

Re: What is a deductible in travel Insurance? Why is this necessary?

Dear Sir/ Madam, 

 

Deductabile in travel insurence means when an insurable event happens, you may have to pay some of the expenses involved out of your own pocket. This amount is known as the deductible. The rest of the expenses or losses will be borne by the insurance company.

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Contributor
Priyanka Singh
Posts: 35
Registered: ‎12-07-2017

Re: What is a deductible in travel Insurance? Why is this necessary?

Deductible means a cost-sharing requirement under this travel insurance policy that provides that the insurer will not be liable for a specified monetary amount or for a specified number of days / hours which will apply before any benefit are payable by Insurer. A deductible does not reduce the Sum Insured. A deductible is important as it makes you a co-owner of the policy, by taking up a certain portion of the loss himself / herself.​

Regular Contributor
Arti
Posts: 176
Registered: ‎30-08-2021
Solution

Re: What is a deductible in travel Insurance? Why is this necessary?

Dear Sir/ Madam, 

 

Deductabile in travel insurence means when an insurable event happens, you may have to pay some of the expenses involved out of your own pocket. This amount is known as the deductible. The rest of the expenses or losses will be borne by the insurance company.

View solution in original post