Insurance

What is a Deductible?

Deductible

[dih-duhk-tuh-buh l]

noun

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?

Teen Drinking and Your Liability

Drinking may be a “rite of passage” for teens, but when it occurs in your home you may be held responsible for their actions.

Understanding Extended Care

Understanding the types of extended care services—and what those services could cost—may be critical.