noun
1.
A Deductible is the amount of money a policyholder must pay out of pocket before any insurance payments are made. For example, if repairs to a personal vehicle cost $1,000, but the Deductible on that Policy is $500, the policyholder must pay $500 toward the repairs before the insurance company covers the other $500.
Floods are among the most frequent and costly natural disasters, especially in the Spring. Last year alone, excessive rainfall brought flooding to many locations, making it the deadliest for flooding since 2017.
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