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What impact does a deductible have while settling a claim?

» If you have no deductible, the company will pay 100% on a covered loss.
» To understand how a deductible works, consider the following: If the deductible on your motor insurance is Rs. 1000 it means you agree to pay this amount first, and your insurance company will pay for damages exceeding this deductible.
» By increasing your deductible from Rs. 1000 to Rs. 2500 or even Rs. 3500 this decreases the insurance company’s risk. This could mean a savings in your premium.


What are the different ways to buy general Insurance?
What is the difference between an Agent and a Broker?
What should I look for in an agent?
Is it necessary to buy insurance through an agent?
What services does a broker provide?
What factors affect the cost of Insurance?
What is Underwriting?
What is Reinsurance?
Who do you file your claim with?
What are the things to be taken care of while filing a claim?
What happens after a claim has been filed?
What impact does a deductible have while settling a claim?
Who keeps an eye on the Insurance companies?
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