deductible buyback
What are the different types of car insurance deductibles and how to choose?
Most car insurance contracts include a car deductible which can vary from one insurance to another. Relative deductible, absolute or proportional deductible are among the most common, but there are many others. Before signing an auto insurance contract, learn the difference between these deductibles and make the right choice. Matmut is there to guide you.
Different types of car franchises: what are we talking about?
The car deductible is one of the criteria for choosing car insurance. Before embarking on the search for the best contract, it is important to know the different formulas of existing car franchises. The two main ones are:
the absolute or fixed automobile deductible.
In the event of a claim, the absolute deductible compensates the insured only if the amount of damage is greater than that of the deductible. The sum then paid by the insurance is equal to the difference between the amount of the costs generated by the claim and the amount of the deductible. This type of car deductible is the one most often found in insurance contracts.
the relative deductible.
The relative deductible is also paid only when the amount of damage is greater than the deductible. However, the compensation is total, i.e. the amount paid to the insured is equal to the total amount of the estimated costs to repair the loss. For example, for a deductible of €500, a loss estimated at €130 does not trigger compensation. On the other hand, if it is estimated at €800, then the insured will receive €800.
Other types of deductibles exist, such as the proportional deductible, the young driver deductible, the deductible for non-designated driver or even the deductible in days. However, they may be specific to certain particular guarantees sometimes offered for subscription or linked to specific circumstances or elements provided for in the contract.
Read also: Car insurance deductible: operation, types, terms of payment
How to choose the car franchise corresponding to your needs?
The deductible is the amount to be paid that remains the responsibility of the insured after a claim and which is therefore not reimbursed by the insurance company. This deductible is applied if the insured is fully or partially responsible for a car accident, for example.
Depending on the deductibles and their terms of application provided for in the contract, the amount of the deductible(s) to be borne by the insured may be higher or lower. It is therefore necessary to check the type(s) of deductible included in the car insurance. Generally, the lower the contributions, the greater the amount of the deductible(s). On the other hand, the more car insurance has high premiums, the lower the amount of the deductible. It is therefore important to take into account, for example, the type of your vehicle (some models have more expensive parts than others when they need to be changed) or the level of risk of accidents to determine which type of excess is best suited to his need.
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