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What is a deductible?
A deductible is the portion of a loss that you are required to pay before your insurance coverage activates. For example, if you owned a policy with a $300 deductible and you suffered a covered loss totaling $1,000, you would pay the first $300 and your insurance company would pay the remaining $700. If the loss was only $300, you would pay the entire amount and your insurance company would pay nothing. Generally, when you choose a higher deductible, your premium is lower.
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Servus Insurance Services | Home and Auto ("SISHA") is a tradename for belairdirect Agency Inc., used under license, and is not a subsidiary of Servus Credit Union. This is not a solicitation by Servus Credit Union. Home and auto insurance is underwritten by Belair Insurance Company Inc. Services provided by belairdirect Agency Inc. ®belairdirect is a registered trademark of Belair Insurance Company used under licence.