What is a Deductible? November 04, 2022 16:41 Updated The amount the policyholder is required to pay before the insurer pays. This applies to each individual claim and not the policy in general. Blog Post: What It's Like to File a Car Insurance Claim? Sign up for the LOOP Navigator Newsletter Related articles What is a Lapse in Coverage? How does a coverage deductible work? What is a Cancellation? What is Bodily Injury (BI) Coverage? What is Actual Cash Value? How is it different from Replacement Cost Value?