What is a franchise in auto insurance?
On the insurance policy with a franchise you can save money and time, but will have to ride carefully. Let us explain more in detail what the franchise and what the franchise should be chosen for auto insurance.
Franchise - these are the minimum losses that are not reimbursed by the insurer if the insured event. A lack of understanding the relationships among the value of the policy and franchises often leads to misunderstandings that threaten the owner of the insured vehicle loss of money. Namely, got into an accident, he expects the payment of insurance. However, upon the occurrence of small insurance case in reality it turns out that for such a small change (in the opinion of the insurer), as a broken windshield, the insurance company will not pay.
Contracts are drawn up with the franchise at the request of the client almost all Autoinsurers. Most often found contracts with an unconditional franchise. In some contracts the insurance company is obliged to set a franchise - for example, in contracts where the small fault risk is high.
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