If you have a $300 deductible on the collision coverage part of your auto policy, you pay the total amount of any loss that does not exceed $300.However, if you have a loss of $1,000, the insurer pays the entire amount, $1,000.Identify this type of deductible.
A)Vanishing deductible
B)Franchise deductible
C)Waived deductible
D)Straight deductible
E)Disappearing deductible

Question

Quizplus · Accepted Answer

A franchise deductible means that if the loss exceeds a certain amount (in this case, $300), the insurer pays the entire loss. If the loss is under that amount, the insured pays for the entire loss themselves.

If You Have a $300 Deductible on the Collision Coverage