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

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?

Can I Refinance My Mortgage?

Can I Refinance My Mortgage?

This calculator can help determine whether it makes sense to refinance your mortgage.

A Bucket Plan to Go with Your Bucket List

A Bucket Plan to Go with Your Bucket List

A bucket plan can help you be better prepared for a comfortable retirement.