A deductible is the portion of the claim you are financially responsible for before your insurer makes a payment towards your claim. For example, if the deductible associated with your home policy is $1,000 and your claim is for $5,000, you are responsible for the first $1,000 and BF&M will pay the balance of $4,000.

It is important to note, deductibles apply per event/loss. As well, a higher deductible may lower your premium, but it also means you will pay more in the upfront lump-sum when you make a claim—so it's important to choose the deductible that makes sense for you financially.

For assistance in determining an appropriate deductible, contact our Customer Service team by calling +1 441 295 5566, Option 4 or emailing [email protected].