Deductables

 

In an insurance policy, the deductible or excess is the portion of any claim that is not covered by the insurance provider. It is normally quoted as a fixed amount and is a part of most policies covering losses to the policy holder. The deductible must be "met", that is, paid by the insured, before the benefits of the policy can apply. This is a great place to save some money on your homeowners policy. By taking a $2500 AOP deductable you can save money vs. taking a $1000 AOP deductable.