Deductible and co-insurance
Franchising and share your own - with these two concepts to keep in mind by purchasing insurance, and trying to obtain compensation from the insurance company. Often about how important it is to read the general conditions of concluded insurance, customers are finding only upon receipt of the decision containing the position of the insurer. The decisions addressed to customers can often read that as "under the general conditions of insurance, the insurance company paid compensation pomniejszyło (for example) with an excess of reducing power." Then the frantic search begins explain the reason for lowering the amount of compensation paid, or even refuse to pay.
Franchise, often not fully correctly identified with the concept of co-insurance, is nothing but a shift of responsibility for damage to the policyholder. In practice, the insurance are distinguished two types of deductibles: deductible and co-insurance of damage, also called franchise reduction.
Deductible (conditional) - the insurer is not liable for damages, which does not exceed the value assumed in the contract minimum. The height of this level can be determined in amount or as a percentage of the sum insured. If the damage is higher than the minimum, then the deductible is not applicable. Example (Autocasco insurance contract), the insurer is not liable for damage consisting of scratching the bumper, if its height does not exceed 100
Deductible (unconditional) - the insurer regardless of the amount of damage reduced compensation for some specific in amount or a percentage of the sum insured. Deductible compensation payable is limited and is designed to motivate policyholders to increased care and attention to your assets, because insurance will not fully compensate for damage and minor damages on the value of the contractual franchise fee which is the victim.
Below are some examples of records of insurance companies from selected T & C and dictionaries of terms:
HDI
Deductible - the amount up to which the HDI does not pay compensation. If the damage exceeds the amount of compensation is paid in full.
Deductible - determined the amount of the insurance contract, which lowers the payment of compensation by a specified amount or fixed percentage.
PZU
Reducing franchise - a predetermined part of the damage for which compensation decreases PZU SA.
deductible - limit the liability of PZU SA for damages not exceeding a specified amount,
share your own - the fixed percentage or in amount of the compensation, which reduces the PZU SA conferred compensation,
PTU
Deductible - the percentage or amount the specified value downplaying any compensation for damage to property,
SIGNAL IDUNA
Deductible - the fixed value in the Agreement, określona in amount or temporarily, less in each case paid by the SIGNAL IDUNA Poland damages. Excess reduction shall be determined separately for each location.
HESTIA
Franchising - the part of damage for which the insurer is not liable.
Deductible (also called the relative or conditional) defines damage in amount up to which the insurer does not respond. Above a certain amount of damage is covered in full.
Deductible (absolute, unconditional) always reduces the amount of compensation for a specified amount or a certain percentage of damage.
