The aggregate deductible is the maximum amount the insured can pay as deductibles over a specified...
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.
Related Terms
An annual aggregate deductible is a deductible-type program under which the insured agrees to...
A back-to-back deductible refers to a deductible arrangement under which the deductible under the...
A basket deductible is a single retained amount designed to fund losses from multiple risks.
A buyback deductible is a deductible contained in the basic policy that may be removed by paying...
A corridor deductible is a deductible applied to an excess loss layer, calculated as a percent of...
A deductible plan is a liability or workers compensation insurance rating plan under which an...
Disappearing deductible is a formula deductible that decreases as the amount of loss increases and...
Franchise deductible refers to a minimum amount of loss that must be incurred before insurance...
An indexed deductible is the amount deducted from each loss payment that is not fixed in relation...
A large deductible plan is a cash flow workers compensation insurance program that allows the...
Matching deductible refers to a deductible arrangement under which the policy deductible equals the...
A mediation incentive deductible provision features a reduced deductible amount and is offered...
A per-loss deductible specifies the amount of first-dollar loss paid by the insured for each loss.
A waiting period deductible is sometimes used in business interruption and other time element...
A wind or hail deductible is a separate, higher deductible provision that applies to loss caused by...
Assumption of risk of loss by means of noninsurance, self-insurance, or deductibles.
Self-insured retention is a dollar amount specified in a liability insurance policy that must be...
Deductible reduction incentive provisions are sometimes included within professional liability...
