What does the non-deductible mean in car insurance?
2 Answers
The following is an introduction to the non-deductible in car insurance: 1. The full name of the non-deductible is the non-deductible liability insurance, which is an additional insurance for car damage or third-party liability (i.e., it cannot be purchased separately without buying the former). 2. Even if the non-deductible is not purchased, the insurance company can still settle the claim, but only 80% of the stipulated compensation amount will be received, and the remaining 20% must be borne by the policyholder. If the "non-deductible insurance" is purchased, 100% compensation can be received when an accident within the scope of insurance liability occurs. 3. If various non-deductible special clauses are purchased, the deductible rate can be fully covered. That is to say, if the non-deductible for car damage insurance is purchased, the original deductible rate will not be calculated, and the insurance company will pay 100% of the claim.
When I first got my driver's license, I was also curious about what 'waiver of deductible' meant. It's essentially an additional option in car insurance. If you purchase it, the insurance company will cover the full cost of claims without deducting the deductible amount in case of an accident. Standard policies usually include a deductible, like the 500 yuan I chose, meaning I'd have to pay that portion myself in case of an incident. The waiver of deductible means the insurer takes over all costs, including that 500 yuan. This was very practical for me as a beginner driver. Once, I scraped the car while reversing, and the repair cost was 800 yuan. Because I had the waiver of deductible, the insurance company covered the entire amount, and I didn't have to pay a cent—peace of mind and savings. Without it, I would have had to share the loss, which could be painful. The premium is a bit higher but worth it; paying an extra few dozen yuan a month for worry-free driving.
