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

Is Your Insurance Santa Proof?

Is Your Insurance Santa Proof?

The holiday season isn't complete until you've watched your favorite Christmas movie. Consider how the aftermath of these favorite movie mishaps would play out in real life.

The Pros and Cons of Banking Your Money

The Pros and Cons of Banking Your Money

The Pros and Cons of Banking Your Money

Did You Know This Fact About the Claims Process?

Did You Know This Fact About the Claims Process?

Claims can be left open as long as you need.