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 I am moving within state and would like to keep my current auto insurance policy. Are you able to help me update the address on my policy? What type of insurance is federally required? When do I need to switch my car insurance over by? What is a featured provider?