What Does Self Insured Retention Mean?

Free Business Insurance Quote Click Here
What does Self Insured Retention mean? Read on to discover the definition & meaning of the term Self Insured Retention - to help you better understand the language used in insurance policies.

Self Insured Retention

Self Insured Retention

(SIR) is the amount specified usually in a liability insurance policy that the insured must pay before the insurance company (insurer) pays. Unlike a deductible (which the insured pays to the insurer), SIR is paid directly to the claimant by the insured.

We hope the you have a better understanding of the meaning of Self Insured Retention.

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z