Deductible
The amount you absorb before the policy pays, shown on the declarations for that coverage.
What it means
Property deductibles can be flat dollars or a percentage (wind/hail). Liability deductibles, when present, may be eroding or non-eroding. Coverbird extracts the number; it does not say whether it is a good deductible.
Why it shows up
Renewal comparisons start here. Percentage wind deductibles on coastal or hail-prone buildings dwarf the “$1,000” people remember.
What to look for
- Per-building versus per-occurrence
- Wind/hail percentage
- Liability deductible endorsements
Coverbird reads the declarations and form schedule on the PDF you already have. It does not sell insurance or say whether a limit is enough.
Upload a policy to find this on yoursForms that implement this
Related terms
- Declarations page
The front pages that list who is insured, what is covered, the term, premium, and limits.
- Coinsurance
A property penalty if you insure a building or contents for less than the required percentage of value.