Definition-The amount of money you agree to pay for a loss before a claim is paid
How far are you in your understanding? I can:
1.0: Write a factual statement (not definition) concerning a deductible.
2.0: In your own word (not the teacher's), define deductible.
3.0: Describe how a deductible affects your premium.
4.0: Give an appropriate deductible for the following situations and describe why:
1) large savings, $50k car 2) large savings, $5k car 3) little/no savings, $50k car 4) little/no savings, $5k car