A deductible is the amount the insured person pays on every claim before the insurer covers the remainder.
A deductible is the amount the insured person pays on every claim before the insurer covers the remainder.
Also called: Excess.
How it works#
With rental cars it is the number that matters, because it is the gap between advertised full cover and the risk actually carried. Some card benefits reimburse exactly this amount, while others apply one of their own. Judging any protection therefore means asking not whether cover exists, but from what point it starts and which damage it excludes.
Not to be confused with#
A deductible is not the same as a security deposit: the deposit is blocked temporarily and released, while the deductible stays with the insured person once a claim happens.
In German#
The German term is Selbstbeteiligung. German version of this term
Related terms#
- Collision damage waiver: A collision damage waiver is the rental company’s promise not to pursue the renter for damage to the vehicle, usually subject to a deductible.
- Primary coverage: Primary coverage means a card’s insurance pays first in a claim; secondary coverage only pays what another policy has not already covered.
- Travel medical insurance: Travel medical insurance covers medical treatment abroad, including repatriation, which state health systems usually do not pay for.
Articles that use this term#
TopicEvery article and term onCards and money.