What Does Aggregate Annual Deductible Mean?

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What does Aggregate Annual Deductible mean? Read on to discover the definition & meaning of the term Aggregate Annual Deductible - to help you better understand the language used in insurance policies.

Aggregate Annual Deductible

Aggregate Annual Deductible

An aggregate annual deductible is the maximum amount policyholders need to pay within a policy period before their insurer pays for covered losses. In other words, if a policyholder files several claims or one large claim, they must pay out of pocket up to a certain dollar sum. Subsequently, coverage kicks in, and the insurer starts making payments.

We hope the you have a better understanding of the meaning of Aggregate Annual Deductible.

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