FAQs October 1, 2018
While buying a 2 wheeler insurance plan, you would be asked the amount of voluntary deductible you would like to declare to avail discounts on premium rates. Voluntary Deductible also called “Voluntary Excess” by some general insurance companies is the amount that the policyholder promises to pay in the event of making the insurance claim. In return, the policyholder is offered a discount on future premium amounts.
This is useful for those who have quality driving skills and are confident that they would not raise too many claims in the future, thus, giving them an opportunity to save their money on overall premium charges.