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What is a Tort deductible, and what is the new Tort Deductible endorsement?

April 26, 2017deductible Endorsement tort

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What is a Tort deductible, and what is the new Tort Deductible endorsement?

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A Tort deductible is the amount that is deducted from a settlement or court award for pain and suffering. The new Tort Deductible endorsement allows you to reduce the deductible associated with court-awarded compensation for pain and suffering to $20,000 from $30,000, and for Family Law Act claims* to $10,000 from $15,000. This endorsement is transferrable.