In the event of a claim, your manager calculates the amount of compensation that will be paid to you.
To do this, they look at the information and documents you provide, and calculates the amount needed to replace or repair your properties, and restore your home.
From this amount, you must subtract your deductible : it is the part of the costs that remains at your expense in the event of a claim, and that we therefore do not pay you.
You can choose it when you subscribe your insurance, and modify it during the contract.
It applies regardless of the amount of damage, and is deducted from the total amount of your compensation.
🤔 What if the amount for repairs is less than the amount of your deductible?
In this case, we will not pay you any compensation : the cost of repair is included in the amount that would always remain for you to pay.
For example :
If your window broke, and the cost to repair the glass is 175 €
If your deductible is 150 € : we will pay you 25 €, because we subtract your deductible (150) from the amount of the repairs (175).
If your deductible is 225€ : we will pay you nothing, because all the costs are part of your deductible, and therefore remain your responsibility.
☝️ It works in the same way for Civil Liability cover:
In the event that you cause damage to a third party, his insurer will claim us the necessary sum to cover their client's loss.
We will cover the amount requested, from which we will remove your deductible.
You will have to pay the amount of your deductible directly to the third party to whom you caused the damage.
If the damage you caused is less than the amount of your deductible, we will not intervene, and you will pay the amount for repair directly to the third party.
For example :
At a party at a friend's house, you knocked over a tray and smashed all the glasses laying there. Your friend estimates the cost for replacing the glasses at 60€.
→ If your deductible is higher than 60€, it is not useful to invoke your Civil Liability cover : as the amount of damage does not exceed the amount of the deductible, no costs will be covered.
👉 Thus, at Luko, we will never intervene for claims for which the damage is less than 75€, because this is the smallest deductible amount available in our contracts.
Therefore, all costs lower than that are necessarily under deductible, and therefore cannot be covered.
For any questions, do not hesitate to contact us by email at firstname.lastname@example.org or on our chat 😺