When you file an insurance claim, you may find that you are responsible for paying a certain amount yourself through a deductible or a copay. You are likely to see this in private health, household contents, and personal liability insurance policies.

Generally, the higher your deductible is, the lower your monthly insurance premium payments will be. There are two different types of copay/deductible schemes: percent-based and fixed amounts.

So how does it work?

Let's say you have a deductible of €1000 in a calendar year and no copay. This means that you would pay the first €1000 of any eligible claims out-of-pocket. After that, your insurance will kick in and pay for 100% of eligible claims. NOTE: You must still file those first €1000 in claims so your insurance company counts them toward your deductible.

Now let's say you have a deductible of €500 with a 10% copay. This means that, for all services invoiced, you will be required to pay 10% of the total, while your insurance company pays the remaining 90%. Once your copays reach the €500 deductible amount, your insurance pays 100% of all invoices. Again, be sure to keep and file those bills so your insurance company counts the amount you pay toward your deductible.

Some plans, like the expat health insurance policy, have a flat copay. In the case of expat health insurance, you must pay a €25 copay per qualifying claim.

Be sure to check your insurance policy documents in your Feather account for specific information on your policies. Your policy documents will have all necessary information on your deductibles and copays.