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.

Share |

Have A Question About This Topic?

Thank you! Oops!

Related Content

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.

An Overview of Renter’s Insurance

An Overview of Renter’s Insurance

Don’t overlook the need for renter’s insurance if you rent your home.

Protecting Those Who Matter Most

Protecting Those Who Matter Most

The importance of life insurance, how it works, and how much coverage you need.