First Priority Insurance Agency

📘 Insurance Term You Should Know: Deductible

Ever hear the word “deductible” and wonder what it actually means?

A deductible is the amount you pay out of pocket before your insurance kicks in to help cover a claim.

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

Choosing a higher deductible can sometimes lower your monthly premium, while a lower deductible means you would pay less upfront if something happens. It is all about finding the right balance for your budget and comfort level.

Not sure what your deductible is or if it still makes sense for you? The First Priority Insurance team is always here to help review your policy and make things easy to understand.

Feel free to send us a message or reach out to us anytime!