Excess and Deductible


‘Excess and deductible’ are excess costs that the insured is self-responsible for any damage that occurs each time

‘Excess and deductible’ are excess costs that the insured is self-responsible for any damage that occurs each time, for examples, a car insurance defines a damage as 1000 baht / time.

If, however, the damage is equal to or less than 1000 baht in an event of an accident each time, the insured will not receive compensation from the insurance company. The insured must be responsible for oneself. In a case of damage exceeding 1000 baht, the insurance company will be responsible for the exceeded amount.

The excess costs also partly affect the value of your insurance premium to reduce according to the amount of excess costs specified. Thus, the insured should be extra careful as the more damage also mean paying more excess costs, even though it will reduce the value of the premium.