In the United Kingdom, deductible is known as “excess”. This makes sense when you reckon about it. Deductible is the amount of money that you are required to pay that is not covered by the insurance corporation. It was first introduced on commercial insurance policies by Norman Baglini in 1952. So much for Norman, he won’t go down in my record textbook, however as far as the insurance industry is concerned, he’s a attractive excellent guy with a fantastic thought. The deductible is immediately average on just about all insurance policies. The rule of thumb is that the higher your deductible, the lower your premium.
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April 10, 2011
Insurance Deductibles
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