The deductible corresponds to the sum that remains your responsibility in the event of a claim. Be aware that there are home insurance contracts without deductible.
Has your home suffered a loss giving rise to the right to compensation? The total amount you can claim will be reduced by an amount called the deductible. Better to know what it is to avoid unpleasant surprises. Focus on home insurance without deductible and their advantages.
The deductible is a threshold below which the insured is not compensated. In the event of a responsible claim, it therefore corresponds to the amount that remains at his expense. The deductibles are specified in the home insurance contracts and vary according to the claims (water damage, glass breakage, natural disasters, fire, etc.).
In terms of home insurance, three types of deductible exist:the relative deductible, the absolute deductible and the proportional deductible. In the first case, the insured is fully reimbursed if the amount of the claim exceeds the deductible threshold. For example, if the deductible amounts to 200 euros and the claim to 400 euros, the customer will be fully reimbursed for this sum. In the second case, the insured is only reimbursed if the amount of the loss is greater than the deductible, in which case the amount paid by the insurer will be reduced by the amount of the deductible. Finally, the proportional or fixed deductible is based on a particular method of calculation. It corresponds to a percentage fixed by the contract and takes into account the residual value of the goods concerned by applying a rate of obsolescence determined by an expert.
Thus, the deductible is a way for the insurer not to have to cover “small claims” which would take too long to process. However, there are no-deductible home insurance policies that prevent policyholders from having to pay a penny out of pocket in the event of a claim.
The absence of deductible generally has an impact on the insurance premium. Generally, the higher the deductible, the lower the premium. Before subscribing, you must assess the risks and the value of the property to be insured. If the risks are low and your belongings do not have much value, it is better to opt for a cheaper insurance premium with deductibles. Otherwise, it is more interesting to take out home insurance without deductible.
To obtain a home insurance quote without deductible, it is advisable to use an online comparator. This free tool saves you money and allows you to subscribe in just a few clicks. Indeed, the comparator takes your criteria into account to offer you multi-risk home insurance offers adapted to your needs. Be sure to compare the guarantees included in the contract, the options offered and the method of compensation in particular. Using an online broker can also help you find a solution that meets your expectations.
