A deductible plan is a liability or workers compensation insurance rating plan under which an...
deductible DED
The deductible is the amount the insurer will deduct from the loss before paying up to its policy limits.
Additional Information
Most property insurance policies contain a per-occurrence deductible provision that stipulates that the deductible amount specified in the policy declarations will be subtracted from each covered loss in determining the amount of the insured's loss recovery. Usually, the amount of the deductible is not subtracted from policy limits.
Summary
Related Terms
Disappearing deductible is a formula deductible that decreases as the amount of loss increases and...
Deductible reduction incentive provisions are sometimes included within professional liability...
