What is an Insurance Deductible?

• In simple terms, a deductible is an amount paid out of pocket by the insured partner before an insurance provider pays any expenses.
• Insurance extends coverage to include all costs related to impact damage that exceed this established threshold.

For example...

• • Company A has a deductible of USD 100.
  • If a claim is made and the amount is set to USD 250, the deductible (100 USD) would be subtracted from the amount: USD 250 - USD 100= USD 150 
    
    
• Insurance deductibles are set by the insurance provider (acting as the threshold for insurance coverage), but you as the Insured partner can choose which amount you prefer.
• At Container xChange, you can choose between USD 50 or USD 100 in the Premium Insurance.
• A lower deductible automatically increases the per-cycle/ per-day cost of the insurance.

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