What Are Deductibles In Marine Insurance? In this informative video, we will clarify the concept of deductibles in marine insurance. We will explain what a deductible is, how it functions within your marine insurance policy, and the different types you may encounter. Understanding deductibles is essential for managing your insurance effectively, as it directly impacts your out-of-pocket expenses when filing a claim.
We’ll cover various deductible types, including straight and percentage deductibles, and discuss franchise deductibles and their unique characteristics. Additionally, we’ll touch on how different coverage types, such as hull and machinery coverage and protection and indemnity coverage, can affect the deductible amounts.
By the end of this video, you will have a better grasp of how deductibles work and how they relate to your overall insurance costs. This knowledge will help you make informed decisions when selecting your insurance policy and managing your financial risk.
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