the amount for which the insured is liable on each loss, injury, etc., before an insurance company will make payment: The deductible on our medical coverage has been raised from $50 to $100 per illness.
Origin of deductible
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
insurance, US and Canadian a specified contribution towards the cost of a claim, stipulated on certain insurance policies as being payable by the policyholderAlso called (in Britain and certain other countries): excess
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
Online Etymology Dictionary, © 2010 Douglas Harper