The amount of loss paid by the policyholder. Either a specified dollar amount, a percentage of the claim amount, or a specified amount of time that must elapse before benefits are paid. The bigger the deductible, the lower the premium charged for the same coverage.

"Deductible" In Context

"Job search costs must also exceed 2% of your adjusted gross income to qualify as deductible expenses, which shouldn't be a problem for most out-of-work job seekers but could prevent some freelancers or self-employed taxpayers from being able to claim them."