Amount an insured pays out-of-pocket and deducted from an awarded insurance claim. This is typically a fixed sum, or a percentage of the total claim amount set when claiming insurance for a collision damage. Refer also to deductible.

More On This Topic

Link to This Definition
Did you find this definition of COLLISION DEDUCTIBLE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary