What is a deductible with regards to a tort claim?
A deductible is the amount of money that and insurance company does not have to pay you from any award for general damages that a jury might award you or from an agreed assessment of your general damages (pain and suffering). For example, if a jury awarded you general damages in the amount of $75,000 the insurance company would only have to pay you $60,000 if your accident occurred between November 1, 1996 and September 30, 2003. The deductible is $15,000. However, if your accident occurred after or on October 1, 2003 the deductible is $30,000 unless the jury awards you $100,000 or more in which case there is no deductible.
