deductible

deductible, adj. Capable of being subtracted, esp. from taxable income. See DEDUCTION(2).

deductible, n.

1. Under an insurance policy, the portion of the loss to be borne by the insured before the insurer becomes liable for payment. Cf. SELF-INSURED RETENTION N. [Cases: Insurance 2106, 2523.]

straight deductible. A deductible that is a specified, fixed amount.

2. The insurance-policy clause specifying the amount of this portion.

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