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deductible clause

noun
1.
a clause in an insurance policy stipulating that the insured will be liable for a specified initial amount of each loss, injury, etc., and that the insurance company will be liable for any additional costs up to the insured amount.
Compare franchise clause.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples for deductible clause
  • The deductible clause does not apply to loss of use coverage.
  • Its purpose is to indemnify in instances where there is a deductible clause in purchased insurance or in cases of self-insurance.
  • Such bond may contain a deductible clause in an amount to be approved by the director.

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