Definition
Fixed amount or percentage of an insurance claim that is the responsibility of the insured, and which the insurance company will deduct from the claim payment. Sometimes deductibles are voluntary (to qualify for a lower premium rate) but usually they are imposed by the insurer to avoid paying a large number of small claims. Also called excess. Not to be confused with tax deduction.
Articles related to 'deductible'
Business Tips
Quid Pro Quo Contributions
Contributions of more than $75 that give a benefit to the donor are considered quid-pro-quo contributions. They are deductible only to the extent the contribution exceeds the value of the benefit, and ... Read more
More Tips
Questions related to 'deductible'
Related Videos
http://www.businessdictionary.com/definition/deductible.html
