What is an insurance deductible waiver?

An insurance deductible waiver is a contract between an insurance provider and policyholder that waives or reduces the policyholder’s financial liability when they file an insurance claim. In Washington, deductible waivers can only be offered as part of a policyholder’s coverage plan and must be clearly outlined in the insurance policy contract. Waiving an insurance deductible can help provide a policyholder financial relief in the event of filing a claim without increasing their premiums. The amount of the deductible waiver is typically a percentage of the total deductible amount and the amount of the waived deductible is the responsibility of the insurance provider. The policyholder should always read the fine print in their insurance policy in order to be clear on their deductible waiver agreement. Ultimately, the insurance deductible waiver helps to protect the policyholder from financial hardship in the event of an insurance claim.

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What is an insurance deductible waiver?

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