A deductible is the portion of a covered claim that you agree to pay out of pocket before the policy pays. Higher deductibles often reduce premium; lower deductibles often increase it.
Deductibles are not the same as copays, out-of-pocket maximums, or self-insured retentions, although they all affect how costs are shared.
When you compare quotes, look at deductible and coverage together. A lower premium can look attractive until a claim happens and the deductible is larger than expected.
Coverivo AI can help explain deductible tradeoffs. A Coverivo insurance professional should review how a deductible would work on a specific policy form.