Question: What does 'Deductible' mean?

Answer:

In the insurance industry, a deductible must be met prior to a claim being paid if the cause of loss is a covered peril.
A typical Homeowners deductible is 1% of the dwelling coverage and for Auto the standard deductible ranges from $50.00 to $1,000.00 for Comprehensive and Collison Deductible.



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