When a person is going abroad to relax, work, or simply on a personal matter, he somehow has to purchase an insurance policy.
If everything is in order with the terms and price, then many have a question with the franchise.
In this article will be some information about what a franchise is and what it affects when travel insurance.
In simple words, a deductible is a certain amount of money that a person pays during an insured event.
There is a deductible in travel insurance starting from 100 euros.
Why do I need a franchise in travel insurance?
There are 3 reasons why the insurance agent puts a deductible:
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The client asks to reduce the cost of the insurance policy.
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The policyholder is under 1 year old (infant) or over 75 years old.
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Insurance is issued under a work visa
Important! Remember that if there is a deductible, during the insured event, the insurance policy will only become effective after the deductible has been paid by the client.
If you have the choice of buying insurance with or without a franchise, think about all the pros and cons.