Franchise deductible

{
  "id": "MLC-T-INS-001583",
  "term": "Franchise deductible",
  "field": "Insurance and risk management",
  "definition": "A type of deductible where the insurer pays the entire loss if it exceeds a specified threshold, but pays nothing if the loss falls below that threshold. For example, if the franchise deductible is $10,000, a $9,000 loss receives no payment, but an $11,000 loss is paid in full. This differs from a standard deductible, where the insured always pays the first portion of a loss.",
  "url": "https://mlchart.com/terminology/insurance/franchise-deductible/"
}