What does Split Deductible mean? Read on to discover the definition & meaning of the term Split Deductible - to help you better understand the language used in insurance policies.
A split deductible is a deductible on an insurance policy that is paid out differently based on the specific peril or loss. This type of deductible payment is not mandatory for certain types of insurance policies but is, instead, chosen by the policyholder.
We hope the you have a better understanding of the meaning of Split Deductible.