Put simply, a deductible is the amount that you agree to pay up front when you make an insurance claim, while the insurance company pays
the rest up to your coverage limit.
After you have met the deductible, the renters insurance policy then kicks in and pays
the rest up to the coverage limit.
Not exact matches
In the event of a covered claim, you may have
to pay a deductible
up front, and your insurance will help pay the
rest —
up to your
coverage limits.
Underinsured driver
coverage works in much the same way - if the at - fault driver's insurance policy has
coverage limits that fail
to pay for all of the damage done, underinsured motorist protection will pick
up the
rest of the tab.
If more than one electronic item is stolen, you will have used
up the
limit of your
coverage pretty quickly and have
to pay the
rest to replace those items out of pocket.
In the event of a covered claim, you may have
to pay a deductible
up front, and your insurance will help pay the
rest —
up to your
coverage limits.
Your collision
coverage would help pay the
rest,
up to your
coverage limit.