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What are Deductibles in Car Insurance?

Types of Deductible in Car Insurance

So, you ask why Deductibles?

Explain it like I'm five

We're making insurance so simple, now even 5-year-olds can understand it.

A boy wanted to buy a bicycle for his birthday. But the parents were worried about his safety on roads. After a lot of thought, they told the boy that he would get a cycle but on one condition. If any damage happens to the cycle, a part of the repair will be deducted from his pocket money. This will ensure that the kid is responsible about his riding to save his pocket money! The part of the pocket money that goes for the repairs, is what we know as Deductibles in Insurance.