A #deductible is the amount you, as the insured person, are required to pay out of pocket before your #insurancecompany covers the remaining costs of a claim.

For example, if you have a deductible of $500 and you file a claim for $2,000 in damages, you will pay the first $500, and your insurance would cover the remaining $1,500.

Deductibles are common in various types of insurance, including health, auto, and home insurance. They help reduce the number of small claims and keep insurance premiums more affordable.

Do you have any specific questions about how deductibles work or how they might affect your insurance policy?

Sincerely,

Harpreet Singh, Most lovable ❤️ Insurance Broker in Ontario

Phone – 6476217890

Email – insurancechampion@outlook.com

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