Use
1) Generally, there is no need to calculate the deductible when there is a total loss. This is in line with the reason for the use of the deductible, but the policy must have the phrase ” no deductible in the event of a total loss “. In fact, this sentence is rarely seen in general insurance policies. For example, there is no such sentence in common auto insurance, and the deductible is still deducted when the result is a total loss.
2) In business interruption insurance, the deductible is usually calendar days, and it is also possible to see how many working days are written in the policy. Be aware that there is a difference between a calendar day and a working day. A working day is not equal to a calendar day. For example, if an eight-hour working system is adopted, and one day is divided into three shifts, one calendar is counted as three working days. With an eight-hour working system, one shift a day, one calendar day is equal to a working day, and a diver maybe 4 hours a working day. It can be seen that working days and calendar days are different, the provisions on the insurance policy are different, and the deductible amount to be deducted is also different.
3) When there are multiple ways of expressing the deductible in the policy, there is generally a sentence, which deductible shall prevail in the event of an accident. For example, some policy terms stipulate that the deductible is 10% of the loss amount or 50,000 yuan, whichever is higher. When making loss adjustments, it is necessary to calculate and compare the two amounts to see which deductible should be used for this accident.
4) Some insurance policies have a deductible for each subject insured. In this case, a sentence is usually added, that is, only one deductible is deducted for each accident, whichever is higher. When adjusting, look at the number of deductibles involved in the accident and deduct the highest one. If only one deductible is deducted for each accident, whichever is higher, the sum of several deductibles involved in an accident may be deducted. The sum of these deductibles may be a different small amount.
Purpose
The purpose of a deductible clause in an insurance policy is to:
1. The insured can enjoy the benefits of paying lower insurance premiums.
2. The insurer can avoid dealing with a large number of small claims cases and save the insurance claims costs of both parties, which is beneficial to both parties.
Form choice
1) For frequent accidents, a certain amount is generally used as the deductible. For example, in auto insurance, there is the deductible basic insurance, with 20% of the loss as the deductible. In the event of a loss of 100 yuan, the insurer also has to conduct an on-site inspection, and the insured makes a claim once, which consumes a lot of energy. In the end, the insurer pays 80 yuan. If 500 yuan is used as the deductible, they will not find an insurer for less than 500 yuan, so the insurance company also saves a lot of energy to deal with bigger things.
2) For the types of insurance with high accident frequency, a certain amount should be used as the deductible. The deductible can be divided into several blocks and contacted with the premium rate.
3) Considering the characteristics of the goods or other relationships, for example, the sales contract stipulates that the deductible is 5%, so you don’t need to start all over again and specify the deductible as a certain amount in the insurance policy. If there is an error between the two amounts, it is also troublesome. Insurance is also a business, save trouble as much as you can, save as much as possible, don’t do too many tricks.
4) The deductible clause in the transportation insurance depends on the sales contract. The deductible should be slightly higher than or equal to the deductible clause in the sales contract, and it must not be lower. If the deductible in the insurance policy is lower than the deductible in the sales contract, in the event of an insurance liability accident, the insurer can use the principle of insurable interest as an excuse to argue, but the insurance company conducts risk management after all. It’s really unreasonable, and it’s not good to waste people’s efforts.
Insurance
Some types of insurance have very high deductibles. For example, in aircraft insurance and ship insurance, the deductible maybe hundreds of thousands of dollars. For this reason, insurers have developed deductible insurance. For this part of the market, this is also insurance. part of the value-added services provided by the vendor.
Medical insurance
Insurance companies generally use deductibles for some lower medical expenses. Except for some medical insurance products without deductibles, the rest basically have deductibles of 100~150 yuan. In other words, medical expenses below this amount are not eligible for reimbursement. This kind of provision that allows policyholders to bear a small amount of risk makes insurance premiums cheaper.