What is a home insurance deductible?
A deductible is the portion of the loss costs for which you are responsible. For instance, if you have a $500 deductible, then you must pay for the first $500 of repairs or replacements. If the damages are $500 or less, then you would be responsible for paying all costs. If the damages exceeded $500, your insurance company would pick up the tab after the first $500.
