What is The Definition of CATASTROPHE DEDUCTIBLE?
In the event of a major natural disaster, the homeowner must pay a percentage or dollar amount before the insurance policy takes effect. This further reduction limits the potential loss to the insurance company in such cases and allows them to insure more properties. A property insurer may not be able to re-insure to cover their profits, unless the maximum possible loss is below a certain level.
Literal Meanings of CATASTROPHE DEDUCTIBLE
Meanings of CATASTROPHE:
An event that causes major and often sudden or catastrophic damage.
Sentences of CATASTROPHE
National economic catastrophe
Synonyms of CATASTROPHE
ruin, crisis, calamity, shock, blow, disaster, cataclysm, tragedy, ruination, holocaust
Meanings of DEDUCTIBLE:
This can be deducted primarily from taxable profits or taxable taxes.
(In the insurance policy) A certain amount that must be paid by the insured before the claim is paid to the insurer.
Sentences of DEDUCTIBLE
Childcare vouchers are deductible for employers.