"Deductibles" Pronounce,Meaning And Examples

"Deductibles" Meaning

Deductibles refer to the amount of money an individual or an organization must pay out-of-pocket before their insurance or coverage kicks in. For example, a health insurance plan may have a deductible of $1,000, meaning that the policyholder must pay the first $1,000 of medical expenses before the insurance coverage begins. After meeting the deductible, the insurance policy will cover the remaining costs.

"Deductibles" Examples

Usage Examples for "Deductibles"

In her individual health insurance plan, the annual deductible was $500, which she paid before her insurance coverage kicked in.
The driver's insurance policy had a $2,000 deductible for property damage, which means he had to pay that amount out-of-pocket before the insurance company covered any losses.
The company's employee benefits included health insurance with a deductible of $1,000, which applies to all family members.
In the event of a car accident, the deductible amount will be deducted from the total claim before the insurance company pays out.
The apartment complex's renter's insurance policy required a $500 deductible in the event of property damage or theft, which meant that the renter was responsible for the first $500 of any damage or loss.