In insurance, a deductible is the amount of money that the insured person must pay before their insurance policy starts paying for covered expenses. For example, with a $2,000 deductible, the insured person pays the first $2,000 of covered services, and the insurance company pays the rest
. Deductibles can vary widely depending on the type of insurance policy, the level of coverage, and other factors. They can be either a specific dollar amount or a percentage of the total amount of insurance on a policy
. Generally, the larger the deductible, the less the insured person pays in premiums for an insurance policy
. Deductibles typically reset each policy period, for example, annually for health insurance
