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

Forecast

Forecast

Life is as unpredictable as the weather. We’d love to help you prepare.

Did You Know This Fact About Dryer Lint?

Did You Know This Fact About Dryer Lint?

Dryer lint is extremely flammable, and should be cleaned regularly

Protecting Those Who Matter Most

Protecting Those Who Matter Most

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