24-10-2017 02:29 PM
What is a deductible in travel Insurance? Why is this necessary?
26-10-2017 04:02 PM
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.