The compulsory deductible amount is the mandatory amount the policyholder pays on the approval of every claim. It is typically a standard amount that will be mentioned in your policy document and your voluntary deductible will be determined according to your bike’s cubic capacity (CC). This is not dependent on the garage repair bill. Compulsory Deductible in two wheeler insurance:
- For two wheelers with engine capacity less than 350cc: Rs. 50/-
- For two wheelers with engine capacity above 350cc: Rs. 100/-
A voluntary deductible is the surplus part of your two-wheeler insurance claim that will not be covered by your insurer. As the name suggests, the insured opts for a deductible which is higher than the compulsory deductible to reduce the premium payable at the time of buying the policy. In a two wheeler insurance, it is the volunteered amount that the vehicle owner agrees to pay at the time of claim repairs and against this gets a discount on the own damage premium.