What is a "deductible"?

What is a "deductible"?

James Bell (Publisher, Auto Reviewer) gives expert video advice on: What is "auto insurance"?; What is "gap insurance"?; What is a "deductible"? and more...

With regards to auto insurance, a ‘deductible' is the part of the car insurance policy that you as the insured are responsible to pay. If there's a reason for the policy to be revoked, the deductible is the amount anywhere between $250 -$1000. It's your responsibility that all of the costs of getting your vehicle either replaced or back to original specification are then covered by the insurance company.