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

Did You Know This Fact About Trampolines?

Did You Know This Fact About Trampolines?

Trampolines cause thousands of injuries per year.

Does Your Credit Score Affect Your Insurance Rates?

Does Your Credit Score Affect Your Insurance Rates?

Your credit score may influence how much you pay for auto and home insurance.

Ways to Supplement Your Medicare Coverage

Ways to Supplement Your Medicare Coverage

There are numerous ways to supplement your Medicare insurance coverage. This article helps you explore your options.