Varying according to the contract and the guarantees, the deductible corresponds to the sum remaining payable by the insured in the event of a claim. We tell you all about it.
When you take out a new insurance contract, you often look at the amount of the annual or monthly premium, as well as the guarantees, whether it is a third party contract or all risks. But another detail should also catch your attention: the franchise. Present with all insurance companies, this corresponds to the sum that remains payable by the insured in the event of a claim. It then varies according to the insurer, but also the type of contract chosen. So remember to take a good look at everything, because it is common for insurance with an attractive premium to hide high deductibles.
There are several types of auto insurance deductibles, which vary depending on the company. Find out which ones:
– Absolute franchise : this is a fixed amount, which is then deducted from the indemnity paid by the insurance
– The relative franchise : in this case, the coverage varies according to the amount needed to repair the damage. If this is lower than the deductible, the insurer does not cover anything. On the other hand, if it is higher, the support is total.
– The proportional deductible : the amount of this type of deductible is defined according to a percentage, written in the insurance contract
Other more specific types of franchises exist, but are rarer. There are several ways to calculate the deductible, which can also be a combination of a fixed amount and a percentage. For example, it can correspond to 10% of the compensation, with a limit set at 300 €. Note that if the claim was caused by a natural disaster, the amount of the deductible is always set at € 380, regardless of the insurance company.
The ideal is to compare the offers online, in order to find the best auto insurance adapted to your needs as well as your budget.