Already insured? Compare your policies with our proposals by clicking on this bar.

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

3 Ways to Save Without Tax Deferral

3 Ways to Save Without Tax Deferral

Tax deferral versus tax-efficient vehicles like Roth 4019k)s, Roth IRAs and Life Insurance.

If a Tree Falls

If a Tree Falls

This handy video helps you stay prepared in case a fallen tree has damaged your house.

Bulletproofing Your Business

Bulletproofing Your Business

Small businesses are at risk when they lose a key employee. Here’s how you can protect yourself.