Deductibles
Why Use Deductibles?
-
Provides Greater Protection for your Premium Dollar on Catastrophic Losses if Insurance value is bought up.
-
Provides lower rates because the cost of adjusting small losses is avoided.
Deductible Options |
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| Code | Type | Alberta | Manitoba | Saskatchewan |
| F/C | Full Coverage | 100% | 100% | 100% |
| 10D | 10% Deductible Disappearing at 40% | 85% | 85% | 85% |
| 20D | 20% Deductible Disappearing at 60% | 65% | 65% | 65% |
| 25S | 25% Straight Deductible | 50% | 50% | 50% |
| 10IP | 10% Deductible Increasing Payment | 75% | 75% | 75% |
Deductible Tables
The following tables show how each deductible works in detail.
10D Disappearing at 40%
|
% Loss |
– |
Deductible |
= |
LossPayable |
|
5 |
– |
10 |
= |
0 |
|
10 |
– |
10 |
= |
0 |
|
15 |
– |
10 |
= |
5 |
|
20 |
– |
10 |
= |
10 |
|
25 |
– |
10 |
= |
15 |
|
30 |
– |
10 |
= |
20 |
|
31 |
– |
9 |
= |
22 |
|
32 |
– |
8 |
= |
24 |
|
33 |
– |
7 |
= |
26 |
|
34 |
– |
6 |
= |
28 |
|
35 |
– |
5 |
= |
30 |
|
36 |
– |
4 |
= |
32 |
|
37 |
– |
3 |
= |
34 |
|
38 |
– |
2 |
= |
36 |
|
39 |
– |
1 |
= |
38 |
|
40 |
– |
0 |
= |
40 |
10IP Deductible Increasing Payment after 70%
|
% Loss |
– |
Deductible |
+ |
Increasing Payment |
= |
LossPayable |
|
5 |
– |
10 |
+ |
0 |
= |
0 |
|
10 |
– |
10 |
+ |
0 |
= |
0 |
|
20 |
– |
10 |
+ |
0 |
= |
10 |
|
30 |
– |
10 |
+ |
0 |
= |
20 |
|
40 |
– |
10 |
+ |
0 |
= |
30 |
|
50 |
– |
10 |
+ |
0 |
= |
40 |
|
60 |
– |
10 |
+ |
0 |
= |
50 |
|
70 |
– |
10 |
+ |
0 |
= |
60 |
|
72 |
– |
10 |
+ |
2 |
= |
64 |
|
74 |
– |
10 |
+ |
4 |
= |
68 |
|
76 |
– |
10 |
+ |
6 |
= |
72 |
|
78 |
– |
10 |
+ |
8 |
= |
76 |
|
80 |
– |
10 |
+ |
10 |
= |
80 |
|
82 |
– |
10 |
+ |
12 |
= |
84 |
|
84 |
– |
10 |
+ |
14 |
= |
88 |
|
86 |
– |
10 |
+ |
16 |
= |
92 |
|
88 |
– |
10 |
+ |
18 |
= |
96 |
|
90 |
– |
10 |
+ |
20 |
= |
100 |
20D Deductible Disappearing at 60%
|
% Loss |
– |
Deductible |
= |
LossPayable |
|
5 |
– |
20 |
= |
0 |
|
10 |
– |
20 |
= |
0 |
|
15 |
– |
20 |
= |
0 |
|
20 |
– |
20 |
= |
0 |
|
25 |
– |
20 |
= |
5 |
|
30 |
– |
20 |
= |
10 |
|
35 |
– |
20 |
= |
15 |
|
40 |
– |
20 |
= |
20 |
|
42 |
– |
18 |
= |
24 |
|
44 |
– |
16 |
= |
28 |
|
46 |
– |
14 |
= |
32 |
|
48 |
– |
12 |
= |
36 |
|
50 |
– |
10 |
= |
40 |
|
52 |
– |
8 |
= |
44 |
|
54 |
– |
6 |
= |
48 |
|
56 |
– |
4 |
= |
52 |
|
58 |
– |
2 |
= |
56 |
|
60 |
– |
0 |
= |
60 |
25S Straight Deductible
|
% Loss |
– |
Deductible |
= |
LossPayable |
|
5 |
– |
25 |
= |
0 |
|
10 |
– |
25 |
= |
0 |
|
15 |
– |
25 |
= |
0 |
|
20 |
– |
25 |
= |
0 |
|
25 |
– |
25 |
= |
0 |
|
30 |
– |
25 |
= |
5 |
|
35 |
– |
25 |
= |
10 |
|
40 |
– |
25 |
= |
15 |
|
45 |
– |
25 |
= |
20 |
|
50 |
– |
25 |
= |
25 |
|
55 |
– |
25 |
= |
30 |
|
60 |
– |
25 |
= |
35 |
|
65 |
– |
25 |
= |
40 |
|
70 |
– |
25 |
= |
45 |
|
75 |
– |
25 |
= |
50 |
|
80 |
– |
25 |
= |
55 |
|
85 |
– |
25 |
= |
60 |
|
90 |
– |
25 |
= |
75 |
|
95 |
– |
25 |
= |
75 |
|
100 |
– |
25 |
= |
75 |