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?

Related Content

Getting a Head Start on College Savings

Getting a Head Start on College Savings

A few strategies that may help you prepare for the cost of higher education.

Coaches

Coaches have helped you your whole life, in ways big and small. We'd like to be one of them.

To Catch a Thief

To Catch a Thief

Having your identity stolen may result in financial loss plus the cost of trying to restore your good name.