What Is A Renters Insurance Deductible? 
A deductible is the amount you the insured will pay if you have a claim . The higher deductible you take when you purchase a policy the lower your premium will be since you assume a little more risk yourself . For example , If you have a $ 500.00 deductible and you have a $ 2,000.00 loss then you pay the first $ 500.00 -LRB- your deductible -RRB- and the insurance company pays the $ 1,500.00 