Definition of "Split deductible"

Paige D Blair real estate agent
Paige D Blair, Real Estate Agent Berkshire- Hathaway HomeServices PenFed Realty

Deductible applicable to each loss so that the amount of each loss retained by the insured varies according to the peril that caused the loss. For example, the split deductible in a policy may specify that the insured must retain the first $300 of any fire loss and $100 of any vandalism and malicious mischief loss.

 

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