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 Contents

Combine Your Policies and Save

Combine Your Policies and Save

Some things just make perfect sense in pairs.

10 Most Common and Costly Small Business Claims

10 Most Common and Costly Small Business Claims

Here are the 10 most common claims against small businesses. Are you covered?

Protecting Those Who Matter Most

Protecting Those Who Matter Most

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