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 What is A Deductible?

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 What is A Deductible?

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  1. Insurance 101: What is A Deductible? Every insurance company sets a minimum deductible value; however, insurance buyers can choose a deductible value higher than the minimum. Deductible is an up-front amount that you have to pay towards the claim before the insurance company pays the rest of the payout amount. The deductible is chosen before buying the insurance & it can impact the insurance cost as higher the deductible, lower is the insurance plan cost and vice versa. Example of deductible: If deductible amount is $1000 and the approved claims amount is $10,000, you will have to pay $1000 from your pocket and insurance agency will pay the remaining $9000. www.shawncampinsurance.com Shawn Camp Insurance Agency, Inc. 2705 E. Stan Schlueter Loop, Suite 101 , Killeen, TX - 76542 Phone: (254) 526 - 0535

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