A deductible is a sum of loss from which the insurance policy expressly disclaims coverage.
The sum of money you must contribute to an insured loss is known as a deductible. The deductible is deducted, or "subtracted," from the amount your insurance contributes to a claim when a calamity strikes your house or you are involved in an automobile accident.
The sum that the insured has agreed to pay before the insurer is required to pay anything on a covered claim is known as a deductible. Higher deductibles result in cheaper monthly premiums (payments), while lower deductibles result in higher monthly premiums (payments).
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