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

The Real Cost of a Vacation Home

The Real Cost of a Vacation Home

What if instead of buying that vacation home, you invested the money?

Keeping Good Records is Good Business

Keeping Good Records is Good Business

Maintaining good records for your business not only helps to meet your tax and legal obligations, but it can save you money.

Money that Buys Good Health is Never Ill Spent

Money that Buys Good Health is Never Ill Spent

It's important to make sure your retirement strategy anticipates health-care expenses.