What Does Reimbursement Rate Mean?

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

Reimbursement Rate

Reimbursement Rate

The reimbursement rate is the tax-deductible value for using a vehicle for business, medical, charitable, or moving purpose. The value for paying back vehicle usage is set by the Internal Revenue Service and is susceptible to change over time.

We hope the you have a better understanding of the meaning of Reimbursement Rate.

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