What does Retention Deductible mean? Read on to discover the definition & meaning of the term Retention Deductible - to help you better understand the language used in insurance policies.
A retention deductible is a clause in an umbrella insurance policy which declares that the deductible will apply for losses for which there is no underlying policy that provide coverage for the specific loss. The specific umbrella policy will dictate exactly how much money the policyholder will have to spend on the deductible.
We hope the you have a better understanding of the meaning of Retention Deductible.