BF&M HAS REOPENED WITH YOUR SAFETY IN MIND 
From Monday, 22 June, new hours and safety measures are in place.
8:30 am–11:00 am for seniors (55+) and 11:00 am–3:00 pm for all customers
For customer service and all business inquiries, call +1 441 295 5566  ◦  For website support or to set up an online account, call +1 441 298 0301

The application process for a one-time Pension refund per the Covid-19 Pension Act Amendment is NOW OPEN.  Click here to apply

Back to FAQs

What is a deductible?

A deductible is the portion of the claim you are financially responsible for before your insurance company 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 $4,000 (the balance).

It is important to note, deductibles apply per event/loss.

As well, a higher deductible may lower your monthly payments, but it also means you'll pay more in the up-front lump-sum when you make a claim, so it's important to choose the deductible that makes sense for you. To get more information on choosing the right deductible, call +1-441-295-5566 and one of our agents will be happy to advise you.

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+1-441-295-5566