Insurance deductibles play a crucial role in determining the out-of-pocket expenses for policyholders, and understanding what they are is essential for maximizing coverage. Deductibles are the amount that policyholders must pay for an insured loss before the insurance coverage kicks in. They help share the cost of claims between the insurance company and the policyholders and discourage risky behavior. Deductibles can be a specific dollar amount or a percentage of the policy limit, and they vary between different types of insurance policies. Deductibles apply to property damage in home insurance and vehicle damage in auto insurance. Health insurance usually has
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