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

When Do You Need a Will?

When Do You Need a Will?

When do you need a will? The answer is easy: Right Now.

Mentorship for Entrepreneurs: An Invaluable Resource

Mentorship for Entrepreneurs: An Invaluable Resource

Entrepreneurship can be a rewarding but solitary pursuit.

What Is a Business Owners' Policy, or a "BOP?"

What Is a Business Owners' Policy, or a "BOP?"

As a business owner, a BOP may be a convenient way to meet your unique protection needs.