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Definitions from the WebTerm: Aggregate DeductibleDefinition: Aggregate deductible refers to the maximum amount of money an insured person or organization is required to pay out-of-pocket for covered expenses within a specific period, usually a policy year. Part of Speech: Noun Sense 1: In insurance, aggregate deductible represents the cumulative amount that needs to be paid by the insured before the insurance coverage takes over. It is the total sum of deductibles for multiple claims experienced within a defined timeframe. Example Sentence 1: The insurance policy had an aggregate deductible of $10,000, meaning the company had to cover all expenses until that amount was reached. Example Sentence 2: After a series of claims, the insured reached the aggregate deductible and their insurance coverage began to pay for the remaining expenses. Related Products on Amazon: | ||||
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