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

Applying for Life Insurance? Here's What to Expect

Applying for Life Insurance? Here's What to Expect

Applying for life insurance isn't exactly simple, but it shouldn't be scary either. We've outlined exactly what you can expect when pursuing a new policy.

4 Benefits of Life Insurance for the Here and Now

4 Benefits of Life Insurance for the Here and Now

Find out four ways your Life policy can help you in the here and now.

Did You Know This Fact About Fire Extinguishers?

Did You Know This Fact About Fire Extinguishers?

How often should you check your fire extinguishers? Do you know?