Definition
Deductible (apallagi)
A deductible (apallagi) is the amount you bear on each claim before the insurer starts paying. If the deductible is €300 and the loss is €1,000, you receive €700. The higher the deductible, the lower the premium usually is — and vice versa.
Also known as: Excess
The deductible is the most common reason two policies with the 'same cover' cost differently. It shifts part of the small risk onto you, so the insurer charges a lower premium. It is a sensible choice if you can absorb a small loss yourself.
Many policies have a different deductible per cover — one for glass breakage, another for weather events. 'I have comprehensive' does not tell you how much you will pay; the deductible does.
In your own policy the deductible usually appears next to each cover in the schedule, not in one single place. Look for the words «απαλλαγή» or «ίδια κράτηση». PolicyWallet surfaces the deductibles per cover and shows you where they differ.
Upload your policy — free analysisFrequently asked questions
Is a high or low deductible better?
A higher deductible means a lower premium but a bigger cost to you at claim time. It depends on how much you can cover yourself.
Does the deductible apply to every claim?
Usually yes, per incident. Some covers may carry no deductible — that appears in your policy terms.
Related
Educational content, not insurance advice. PolicyWallet explains what the term means and helps you find it in your own document — it does not assert what your policy covers.