What is a deductible? Chandra November 05, 2018 21:15 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? What should I do if I need to insure multiple houses? How do I provide my property with proof of insurance? My policy needs have changed. How do I edit the information submitted?