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Deductible (Noun)

A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount.

Nouns denoting communicative processes and contents.

The insurance policy had a deductible of $500, which meant the homeowner had to pay the first $500 of any damage before the insurance company would pay out.
My auto insurance policy has a deductible of $200, so I have to pay the first $200 of any repairs if I get into an accident.
She increased her deductible from $100 to $500, which lowered her annual insurance premium.
The company's insurance policy included a deductible of $1,000 for each employee, which applied to medical expenses.
The deductible on his homeowner's insurance policy was so high that he rarely filed claims for minor damage.

(taxes) an amount that can be deducted (especially for the purposes of calculating income tax).