What is a deductible? Chandra September 24, 2020 16:04 Updated Follow A deductible refers to how much money you'll have to pay from your own pocket before your insurance kicks in. In most cases, a higher deductible will result in a lower premium. Related articles What is a premium? Why was I connected with this insurance agency? I'm moving before my policy ends but have already prepaid for the full amount. Will I get a refund? What should I do if I need to insure multiple houses? How do I provide my property with proof of insurance?