Deductibles in ClaimCenter are primarily tied to what?

Deductibles in ClaimCenter are primarily tied to individual coverages associated with exposures. This is because deductibles are designed to define the amount of loss that the insured must bear before the insurer becomes liable for the payment of a claim. Each type of coverage—such as property, liability, or auto—may have specific deductible amounts unique to that coverage. This ensures that the deductible is relevant to the nature of the exposure being insured. For example, a homeowner's policy might have a different deductible for fire damage compared to theft.

By linking deductibles to specific coverages rather than individual claims or overall amounts payable, ClaimCenter allows for clarity and consistency in how claims are processed and how deductibles are applied based on the coverage type involved in the claim, reflecting the risk management practices of insurers.