Glossary / insurance

Deductible

The amount you pay out of pocket before insurance pays anything on a claim.

Your deductible is the dollar amount you pay out of pocket on each claim before your insurer begins to pay.

Many homeowners policies in storm-prone regions carry a separate, higher deductible for wind/hail damage — sometimes expressed as a percentage of the dwelling coverage (e.g. 1% or 2% of $400,000 = $4,000–$8,000). Check your declarations page for the exact value.

Where you'll see it

  • Subtracted from the first check the insurer sends.
  • Itemized on the Statement of Loss.
  • Reapplied for each separate claim event.