Insurance

What is a Deductible?

Deductible

[dih-duhk-tuh-buh l]

noun

1.

A Deductible is the amount of money a policyholder must pay out of pocket before any insurance payments are made. For example, if repairs to a personal vehicle cost $1,000, but the Deductible on that Policy is $500, the policyholder must pay $500 toward the repairs before the insurance company covers the other $500.

Have A Question About This Topic?

Thank you! Oops!

Related Content

Stay Safe with a Business Owner's Policy

Stay Safe with a Business Owner's Policy

Learn the advantages of Business Owner's Policies with this highly educational and fun animated video.

If You're In An Accident

If You're In An Accident

Learn the best steps to take after you’ve been in an automobile accident with this useful, step-by-step video.

When is Full Coverage Auto Insurance a Must-Have?

When is Full Coverage Auto Insurance a Must-Have?

Do you need full coverage? Here's a bird's-eye view of this important question.