Deductible

Term · Environment · MLC-T-ENV-007479

A threshold on a policy basis that the insured must pay for damages (i.e., insured loss) before an insurer will provide coverage. In other words, whether the policy covers one year or 10 years, the deductible applies to the entire policy period; therefore, a deductible needs only to be met once during that policy period, not on an annual basis (unless otherwise stipulated in the insurance policy).

Table 1. Record
Identifier	MLC-T-ENV-007479
Field	Environment
Subject	Land, waste and cleanup
References	Environmental Insurance and Risk Management Tools Glossary

Record as JSON

{
  "id": "MLC-T-ENV-007479",
  "term": "Deductible",
  "field": "Environment",
  "definition": "A threshold on a policy basis that the insured must pay for damages (i.e., insured loss) before an insurer will provide coverage. In other words, whether the policy covers one year or 10 years, the deductible applies to the entire policy period; therefore, a deductible needs only to be met once during that policy period, not on an annual basis (unless otherwise stipulated in the insurance policy).",
  "subject": "Land, waste and cleanup",
  "references": [
    "Environmental Insurance and Risk Management Tools Glossary"
  ],
  "url": "https://mlchart.com/terminology/environment/deductible/"
}

Record 7,479 of 30,736 in Environment terminology (MLC-0121). Request the full dataset.