You are viewing a preview location.
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

Insuring Your Second Home

Insuring Your Second Home

There are unique risks of owning a second home and obtaining the proper coverage may protect you from financial risk.

Protecting Your Business from the Loss of a Key Person

Protecting Your Business from the Loss of a Key Person

Business owners may be able to protect themselves from the financial consequences of losing a key employee.

Understanding Extended Care

Understanding Extended Care

Understanding the types of extended care services—and what those services could cost—may be critical.