Deductible
The amount that you pay before the insurer starts reimbursing you either in part (see coinsuranceThe portion of each insurance claim, expressed as a percentage, you pay after you have reached the deductible and before you have reached your maximum out-of-pocket payment amount. Coinsurance is ve... More) or in full. Deductibles can apply per claim (as is usually the case for auto collisionInsurance coverage that reimburses you for damage to your car when it impacts another vehicle or object or rolls over. More and homeowners insurance), per person (a common feature in health insurance) or on other bases.
