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

An Arm and a Leg

An Arm and a Leg

A visit to the hospital can be painful, for both your body and your wallet. Don’t let it be more painful than it has to be.

Lifetime of Earnings

Lifetime of Earnings

Estimate how much you have the potential to earn during your working years.

What Is a Business Owners' Policy, or a "BOP?"

What Is a Business Owners' Policy, or a "BOP?"

As a business owner, a BOP may be a convenient way to meet your unique protection needs.