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What’s a deductible?

April 26, 2017deductible

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What’s a deductible?

1 Answer

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It’s the portion of a covered loss that, according to your policy, you’ve agreed to pay before Farmers starts paying for costs of the loss. For example, if you have a covered loss of $2,000 and your policy carries a $500 deductible, you’ll pay the first $500 and we’ll pay the remaining $1,500.