Insurance Claim Payout Calculator
See the arithmetic effect of an applicable policy limit and dollar deductible on an eligible loss amount you enter.
Enter an eligible loss amount, the applicable policy limit and the deductible. This simple scenario does not decide whether a loss is covered.
The simple scenario leaves $1,000.00 outside the calculated payment. Real settlement can differ because coverage, valuation, tax, co-insurance, sublimits and other policy terms are not modelled.
Keep your inputs, result and assumptions together. Replace any example values before saving. Review the report to print it or save a PDF through your browser. The file is created on your device.
Calculation order used
The calculator first caps the entered eligible loss at the entered policy limit. It then subtracts the deductible, without allowing the result to fall below zero.
For example, a C$25,000 eligible loss with a C$20,000 limit and C$1,000 deductible produces a C$19,000 simple scenario payment. That does not mean an insurer has accepted C$25,000 as covered damage.
What this calculator does not include
Replacement-cost conditions, actual cash value, depreciation, co-insurance, percentage deductibles, taxes, sublimits, multiple deductibles, salvage, betterment and policy exclusions can change a real settlement.