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

Pay Yourself First

Pay Yourself First

It sounds simple, but paying yourself first can really pay off.

Buying Auto Insurance For Teen Drivers

Buying Auto Insurance For Teen Drivers

Tips on insuring your teen driver.

Avoiding Cognitive Decline

Avoiding Cognitive Decline

Try these activities to keep your brain sharp.