de·duct·ible
                    
                                                                                                              
                                                                                                                                  di-ˈdək-tə-bəl  
                                                                                                                              
            dē-
                                                      
                                                          
                                
              
          
                                                      : allowable as a deduction                                      
              
                             
expenses that are deductible from taxable income
                         
                
                    
            
               plural deductibles            
        
    
                                
              
          
                                                      : the amount of financial loss specified in an insurance policy that the insurer will not be held responsible for and that the insurance holder must pay                                      
              
                             
The deductible on your insurance is the amount of money on an insurance claim you would pay before the insurance company pays. It's what you'll be paying out of pocket prior to the insurance coverage.— Steve Fiorillo
Steve Fiorillo
                         
                
                                
            also                
          
                                                      : a clause in an insurance policy that relieves the insurer of responsibility for an initial specified loss of the kind insured against                                      
            
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  Merriam-Webster unabridged




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