Deductible
Definition. A Deductible is the dollar amount you pay out-of-pocket before insurance starts paying on a claim.
Also known as: Deductible
Higher deductibles lower premium. Commercial Property deductibles typically $500-$5,000; Commercial Auto $500-$5,000; some specialty lines (Cyber, EPLI) much higher. Some claims aggregate against an annual deductible.
Example
Commercial Auto with $1,000 deductible. $4,500 collision claim — you pay first $1,000, insurance pays $3,500.
Sources cited
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📘 Educational content only.
Reviewed by California-licensed Property & Casualty insurance agent
Jason Wootton (CA License #0I94454). Not insurance advice, an individual recommendation, or a solicitation in any state. Insurance regulations vary by state. For specific coverage decisions, consult a licensed insurance agent in your state.
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