A deductible is amount that you would pay on a claim when a covered loss occurs. If your loss is worth more than your deductible, your insurance pays the rest - up to your coverage limit. 

You can choose the amount you select for your deductible.  Deductible and coverage limits typically influence your premium.  No one wants to pay for coverage they don’t use, but no one wants to be left hanging out to dry in the event of a loss either.  While it is  tempting to only focus on policy price, it is important to consider the costs you might not be able to cover on your own if you had to rely on your policy for help.