Definition of Deductible:
Able to be deducted, especially from taxable income or tax to be paid.
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.
(in an insurance policy) a specified amount of money that the insured must pay before an insurance company will pay a claim.
Synonyms of Deductible
Accident insurance, Actuary, Annuity, Assurance, Aviation insurance, Bail bond, Bond, Business life insurance, Casualty insurance, Certificate of insurance, Court bond, Credit insurance, Credit life insurance, Endowment insurance, Family maintenance policy, Fidelity bond, Fidelity insurance, Flood insurance, Fraternal insurance, Government insurance, Health insurance, Industrial life insurance, Insurance, Insurance agent, Insurance broker, Insurance company, Insurance man, Insurance policy, Interinsurance, Liability insurance, License bond, Limited payment insurance, Major medical insurance, Malpractice insurance, Marine insurance, Mutual company, Nondutiable, Nontaxable, Ocean marine insurance, Permit bond, Policy, Robbery insurance, Social security, Stock company, Tax-deductible, Tax-exempt, Tax-free, Term insurance, Theft insurance, Underwriter
How to use Deductible in a sentence?
- I called my insurance company after last nights storm tore off parts of my roof and they said they would fix it after I paid the $500 deductible for my insurance plan.
- He was a relatively healthy young man, so he chose the insurance plan that had the highest deductible and lowest premium that he could.
- When choosing a health insurance plan, I looked for one that had a low monthly premium, as well as a low deductible .
- A traditional insurance policy with a low deductible.
- Child-care vouchers will be deductible expenses for employers.
Meaning of Deductible & Deductible Definition