Definition of "Split deductible"

Paige D Blair real estate agent

Written by

Paige D Blairelite badge icon

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.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Indemnifies an insured whose property is stolen, damaged, or destroyed by a covered peril. The term property insurance encompasses numerous lines of available insurance. ...

Association formed to address the requirements of government risk pools. ...

Coverage in which an insurance company's portfolio is ceded to a re insurer who re insures a given percentage of a particular line of business. ...

Same as term Calendar Year Experience: paid loss experience for the period of time from January 1 to December 31 of a specified year (not necessarily the current year). ...

Coverage in the event an insured's automobile is damaged, destroyed, or lost through fire, theft, vandalism, malicious mischief, collision, or windstorm. There are two kinds of property ...

Payment for coverage that remains throughout the same premium-paying period. ...

Means of projecting the costs of pension plans on a level basis over a specified future period of time. The actuarial value of each employee's future benefits to be paid at retirement is ...

Contracts of reinsurance in which expected income from investments is a major component of the UNDERWRITING process. Also, the ultimate liability of the reinsurer is limited. The reinsurer ...

Ending a pension plan at the election of an employer or sponsor. The employer has the unilateral right to change or terminate a pension plan at any time. However, the termination must meet ...

Popular Insurance Questions