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

Data Breach: Your Security To-Do List

Data Breach: Your Security To-Do List

This article provides a checklist of steps to take if you experience a data breach.

The Other Sure Thing

The Other Sure Thing

Though we don't like to think about it, all of us will make an exit sometime. Are you prepared?

Interested in a Fuel Efficient Car?

Interested in a Fuel Efficient Car?

Estimate how many months it may take to recover the out-of-pocket costs when buying a more efficient vehicle.