In the case of an insurance, what does $100 deductible mean?

Question

this is a question from a test. i'm sure a lot of you guys know what it is....HELP!!

Answer 1

A deductible is an amount of money that the policy holder has to pay out of pocket before his/her coverage kicks in.  So in this case $100 would need to be paid by the insured before their coverage would kick in and take care of the rest.  Hope that helps.

Answer 2

If you want to insure something that costs $500 to replace, you only have to pay $100 and the insurance company will pay the $400.

Answer 3

It means that the first $100 when you put in a claim is paid by you.

Answer 4

Any claim for a monetary settlement, such as an accident or health care, you pay the first $100.00.  Or any other amount as stated in the policy.

The insurance pays all the rest.

Answer 5

C) a deductible is the initial portion of expenses you must pay before the insurance company pays anything.

Answer 6

c.

Answer 7

DEDUCTIBLE IS the amount that you need to satisfy before the benefit kicks in. You have two kinds of deductible and that is individual and family deductible.  Most of the insurance has this but some aren't.  This means that you need to to pay 100 dollars from your pocket.

Answer 8

That simply means you will have to pay that $100. For instance, if your car insurance is $100 deductible for glass or collision coverage, that means that they will take a $100 off the check the car insurance company gives to you for the deductible.

C