Deductible

Written by  //  June 22, 2011  //  Insurance Glossary: A-D, Insurance Terms  //  Comments Off on Deductible

This is the amount you will pay out of your own pocket before the insurance company pays for a claim. For instance, if you have a $1,200 covered loss and $500 deductible, the insurance carrier pays $700. You pay the first $500.

Comments are closed.