How does the deductible work?

Updated: 9/11/2023
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12y ago

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Your deductible is the portion of the loss that you are responsible for paying yourself.

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Q: How does the deductible work?
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Is volunteer work in a Hospital tax deductible?

Volunteer work is not deductible. Otherwise, I would not owe any tax!

Is homeowner's deductible paid before work commences?

The company doing the work may require you to pay the deductible amount before they start doing the job.

If you ride the bus to work each day can you writ it off on your taxes?

No you cannot. The trip to and from your primary work location is not tax deductible. Any additional trips from work to other work-related locations are tax-deductible.

If you hit a parked car and the damage is over your deductible how does that work?

If you hit a parked car, the deductible applies to your vehicle, not the parked car. The other vehicle is covered by your liability coverage and there is no deductible attached. You pay the deductible on the repairs to your vehicle, usually to the shop after the work is completed, the insurance company handles the balance directly.

How does home owners deductible insurance work?

I assume you mean how does the deductible work. When you file a claim on any insurance, the insurance company will take out the deductible before it issues the payment to you. In many states the banks are protected and the check has to be made out to you and the mortgagee company.

How does your deductible work in home insurance?

The amount of a policy deductible on a homeowners insurance policy is chosen by the policyholder. Your policy deductible is the amount you are responsible for paying before the insurance company will payout for a claim. If you experience a loss to your dwelling or your personal property, your homeowners insurance policy deductible applies. The deductible does not apply to other coverages on the policy. If you experience a loss under your deductible, you will not be eligible for a payout. If your loss exceeds your deductible, your deductible will be deducted from your claims payout check.

Are you responsible for paying the deductible if the accident was in a work vehicle?

only if it was your fault

What is the correct spelling of deductible or deductible?


Can you void the contract before any work begins if you can't pay the deductible on your roof repair?

Yes, The work has not started. But you can make a deal with your roofer where he says you paid him the deductible but he just took the insurance money as cost for the repair.

Can you claim gas to work on your income tax?

No. Commuting is a non-deductible personal expense. If you use your car for your job, such as running errands or driving between job sites during your work day, those miles may be deductible.

How do deductibles work for health insurance?

A deductible is the amount of your actual, billed health care costs that you must pay before the insurance will kick in. Your premium does not count towards your deductible. The higher your deductible, the more you have to pay before your insurance will start to cover your bills.

Is it deductible or deductible?

It is "deductible," except in Australia, where it's spelled "deductable."