The deductible is the amount you cover yourself in a claim. Choosing it directly affects both your policy price and how much you receive in a settlement.
What a deductible is
The deductible is your share of the loss. For example, if the deductible is €150 and the repair costs €1000, the insurer covers €850 and you pay €150. The higher the deductible, the cheaper the policy - and vice versa.
How to choose the right amount
The key principle: the deductible should be an amount you can pay at any time without stress. There is no point choosing a very low deductible and overpaying for the policy if you would repair minor damage yourself anyway.
- Low deductible (€0-75): more expensive policy but a small share for you - suits new and expensive cars or less confident drivers.
- Medium deductible (€150-300): a well-balanced choice for most drivers.
- High deductible (€400+): cheaper policy - suits experienced drivers who cover minor damage themselves.
Watch out for different deductibles
Some policies have separate deductibles for different events - one for glass, another for theft, another for water damage. When comparing offers, always look not only at the price but also at the deductible structure. This is exactly where a broker helps you spot the fine print.