Fayetteville Office

717 Hay Street

Fayetteville, NC 28301
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

Accidents

Accidents

Accidents happen to everyone. We're here to help.

Protection Against Uninsured Drivers

Protection Against Uninsured Drivers

You’re hit by an uninsured driver. Now what? Are you protected against financial losses?

Long-Term-Care Protection Strategies

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.