Application Of Deductible

Application of deductible is what will happen when you have a claim. If this claim happens to have more than one deductible than the largest individual deductible is applied.

An example of this could be when you have a fire and your building is damaged. Your business contents and equipment are also destroyed by the fire. The insurance company will usually only apply the highest deductible for the multiple loss under the one incident.

Talk to your agent or broker when you set up your policy about what could happen in the event of a claim. Understand the exclusions and limitations of your policy. Take control of your insurance.