The deductible, or excess, is the amount of money the policyholder is required to pay out of pocket in the event of a claim.
It applies to each claim paid for by the insurance company.
The amount of the deductible is specified in the insurance policy.
Insurance companies distinguish between three types of drivers:
- Young drivers
- New drivers
- Other drivers
Young drivers: Drivers under the age of 25 are considered young drivers. Their deductible is usually CHF 1,000.
New drivers: These are drivers aged 25 and over who have had their driving licence for less than 2 years. Learner's permits are not considered driving licences in this case. The deductible for new drivers is usually CHF 500.
Other drivers: These include all drivers aged 25 and over who have had their driving licence for at least two years when the event of damage occurred. They are usually not subject to a deductible.
The policy states both the amount and all cases in which the deductible must be paid. The exact amounts vary with each insurance company.
Examples of claims that may be subject to a deductible:
- Collision damage
- Damage while parked
- Glass breakage
It is more advisable to choose a higher deductible for collision damage since it reduces the premium considerably more than a higher deductible for partial casco insurance, provided, however, that you are prepared to assume higher costs in the event of damage.