Pay attention to the exemption and/or co-insurance application in your policy.

Pay attention to the exemption and/or co-insurance application in your policy.

The insurance company and the policyholder can arrange according to the general conditions that the damages up to a determined amount or a certain percentage of the insurance amount or a certain percentage of the damage will not be compensated by the insurer. In return for the distribution of a certain part of the damage to the insured by the insurance company, a discount is also made from the premium to be paid by the insured. Therefore, the advantages and disadvantages of the exemption and co-insurance application, which will affect the amount of compensation that the insured will receive at the time of damage, should be well known by the insured.