Insurance Excess, Franchise and Deductibles

[@ColdRainFalls]

I really appreciate this. Studying for my adjusters license and I’m able to finally understand the differences. No one else was explaining franchise deductible. So glad I found this explanation!

[@writingandpublishingsucces2095]

This is very valuable - I highly appreciate it because I recently pay my insurance company £800 excess even though I was not my fault. But after I won the court decision, they paid me back my money.

[@edgarnelson956]

this info is insightful for my exams

[@parthchaudhary8993]

Excellent Information and it is easy to understand and very helpful as I am preparing for CII exam. Can you please make a video on what is Co-Insurance and Re-Insurance and how they are different?

[@insuranceeducation8950]

Hi Parth, thanks for your comments, I have uploaded a video in reply. If you would like additional info feel free to email me : [e-mail]

[@lisacaesar1539]

knowledge brother Raymond

[@abdulsamura333]

Particular average franchise and excess abd deductible

[@processchinowaita9117]

How to calculate excess

[@laminceesay2418]

Give and explanation on limit

[@gusskh5497]

Plz explain what is meant by : subject to 5% excess e.e.l. Is it 5% from sum insured or claim amount? Thank you in advance 🙏🏻

[@insuranceeducation8950]

Hi Guss, thanks for the request. e.e.l. means each and every loss. when subject to 5% e.e.l, it usually mean every time there is a loss, when the insurer is paying you the claim amount, 5% of the sums insured is deducted. eg: Sum Insured of say £10,000, then e.e.l will be £500. Some Insurers express this Excess as a fixed amount rather than as a percentage. Finally, an insurer is at liberty to quote their own terms, even if they want to express the e.e.l as a percentage of the amount claimed, then can do so. It is important to read the contract carefully. hope this helps..? which country are you from?

[@gusskh5497]

@@insuranceeducation8950 thank you very much for the swift response and great knowledge that you share with us. I’m watching you from Jordan ❤️

[@insuranceeducation8950]

Wow, this is great, you are my very 1st contact from Jordan. Can you share a bit more about your insurance industry in Jordan? have you got an institute?