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?

Choosing a Mortgage

Selecting a mortgage isn't an easy process. Get a better understanding of how professionals make the right decisions.

What is Blanket Coverage?

Do you know what Blanket Coverage is?

4 Tips for Adding Your Teen to Your Car Insurance

If your teen is approaching driving age, you may be preparing to add them to your car insurance. It’s important to be aware of these four things before you do so.