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.
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Policy Fee

A policy fee is a charge connected with issuing or servicing a policy, separate from premium in some cases.