Deductible ; Deductible What is a deductible? A deductible is the amount a person with insurance pays toward her claim before the insurance company pays the remainder. A low deductible equates to lower out-of-pocket expenses while a high deductible means paying higher out-of-pocket expenses. Deeper definition Deductibles are a part of any kind of insurance plan, including auto insurance and homeowners’ and renters’ insurance.