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

Forecast

Forecast

The market is as unpredictable as the weather. We’d love to help you prepare.

The Economic Journey of Your Morning Coffee

The Economic Journey of Your Morning Coffee

Few contemplate the complex journey that brought their coffee from farm to kitchen table.

Personal Finance Tips for Military Families

Personal Finance Tips for Military Families

Military families face unique challenges, making personal finance even more critical.