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

Long-Term-Care Needs

Long-Term-Care Needs

Determine your potential long-term care needs and how long your current assets might last.

Inventorying Your Possessions

Inventorying Your Possessions

Creating an inventory of your possessions can save you time, money and aggravation in the event you someday suffer losses.

Did You Know This Fact About Night Safety?

Did You Know This Fact About Night Safety?

Follow this tip to increase your children's visibility at night.