What is an Insurance Deductible?

How does Insurance Deductible Work?

Types of Deductibles in Car Insurance

Types of Deductibles in Health Insurance

Difference between Compulsory Deductibles and Voluntary Deductibles

Compulsory Deductible

Voluntary Deductible

The excess amount that is fixed by the insurer which the insured will bear in the claim amount.

The excess amount that is fixed by the insurer which the insured will bear in the claim amount.

Compulsory Deductible does not affect the premium.

Voluntary Deductible affects the premium directly. Higher deductible means lower premium and vice versa.