Policy terms

Deductible

A deductible is the amount you pay out of pocket on a covered claim before your insurance pays the rest. A higher deductible generally lowers premium but increases what you pay at claim time.

How it shows up

Property coverage often uses deductibles, sometimes a percentage for certain causes of loss. Choosing one is a balance between premium and the loss you could absorb.

Commercial coverage overview → How Much Does Commercial Insurance Cost? →

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