the.com/deductible
The amount you must suffer before your insurance remembers you exist.
means The fixed amount you pay out of pocket on a claim before your insurance coverage kicks in to pay the rest.
from From 'deduct,' tracing back to Latin 'deducere' — 'de-' (away) plus 'ducere' (to lead), literally 'to lead away' or 'subtract.' The insurance sense is a straightforward 19th/20th-century extension of the financial meaning: an amount led away from, or subtracted from, what the insurer owes you.
- pricing logic
- lower deductible, higher premium, insurer still wins
- psychology trick
- makes you think twice before filing tiny claims
- health plans
- often resets every January, like your gym motivation