The basic trade-off
A deductible is the amount you generally pay toward a covered loss before an insurer pays its share. A policy with a higher deductible may have a lower premium, while a lower deductible may cost more to keep active.
Ask when it applies
Policies can have separate deductibles for different types of claims, and some coverages may not use a deductible at all. Read the declarations page and policy wording rather than assuming every event follows the same rule.
Choose a number you could use
The most affordable deductible is not the smallest one on the page. Consider whether your household could pay it without using high-cost debt if the covered loss happened next month.