Your deductible, in plain English.
A deductible is the amount you pay toward a covered claim before your insurance pays the rest, subject to your policy terms.
What is a deductible?
Many collision and comprehensive policies include a deductible. It can differ by coverage. Your declarations page tells you the amount that applies.
A simple example
If a covered repair costs $2,000 and the applicable deductible is $500, you would pay $500 and your insurer would generally pay the remaining $1,500, subject to policy terms and limits.
What to consider
Compare the premium and the amount you could afford after a claim. A higher deductible can lower the premium, but increases your share of a covered loss. Ask a licensed professional how the options apply to your situation.