Insurance Lesson

What is a deductible

A deductible is the amount deducted from any covered loss payment by an insurance company. Higher deductibles typically result in a lower premium.

Lesson Script

What This Video Covers

A deductible is the amount deducted from any covered loss payment by an insurance company. Higher deductibles typically result in a lower premium.
Keep Learning

Related Insurance Video Lessons

Insurance Terms to Know

Renewal

Renewal is continuation of a policy for a new term, often with updated premium, forms, limits, or underwriting information.