Definitions for "Deductible Clause"
A provision in an insurance policy setting forth the amount of liability being retained by an insured and the sharing of losses once the deductible is exhausted.
An insurance policy provision that specifies an amount to be deducted from any loss, leaving the company liable only for the excess of that stated amount.
A clause which provides that the insured will pay his/her own losses below a specified amount per loss (as with $250 deductible collision on automobiles) or that he/she will pay a certain percentage of every loss (as with 80/20 automobile collision).
Keywords:  statement, policy, sets
A statement in a policy that sets the deductible.