A Deductible Is Your Share Of The Cost
When you file a claim for a covered loss, you may be responsible for a set amount, called a deductible, to repair or replace whatever is damaged or stolen.
Example: A fire starts in a trash can and damages the surrounding contents and shelves, which will cost $5,000 to replace.
Business owner has a $500 deductible
Business owner pays $500
Insurance pays $4,500.
More About Deductibles
- Not all coverages have a deductible. However, a deductible will always apply to Allstate's Building and Business Personal Property coverages.
- The amount of any deductible will be shown on your Policy Declarations.
- In most cases, you choose the deductible from a range of options. A higher deductible usually means a lower insurance premium.