Glossary
Deductible
The amount you pay out of pocket before the insurer pays the rest.
A deductible is the portion of a claim you agree to bear yourself before the insurer pays. In car insurance it appears as a compulsory or voluntary deductible; a higher voluntary deductible lowers your premium but raises what you pay at claim time.
Related guides
More glossary terms
Co-payment (Co-pay)IDV (Insured Declared Value)No Claim Bonus (NCB)Claim Settlement Ratio (CSR)Incurred Claim Ratio (ICR)Sum Insured
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