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

If a Pipe Breaks

If a Pipe Breaks

Learn what to do when a pipe bursts with this helpful video flooded with smart tips.

Medicare vs. Medicaid

Medicare vs. Medicaid

The terms Medicare and Medicaid sound similar but are two very different things. Learn the differences in this informative article.

Long-Term-Care Protection Strategies

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.