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

You’re Not an ATM: 5 Tips for Teaching Your Kids the Value o

You’re Not an ATM: 5 Tips for Teaching Your Kids the Value o

“Mom, can I have five bucks?” These words will be heard by all parents at some point. Every parent must decide...

What is Blanket Coverage?

What is Blanket Coverage?

Do you know what Blanket Coverage is?

Retirement Planning With Your Special Needs Child in Mind

Retirement Planning With Your Special Needs Child in Mind

Having a special needs child adds another layer of complexity to retirement planning. A special needs trust may help.