A deductible within a policy that states claims under a certain amount or certain percentage of the policy are not covered. Claims that cost more than those amounts are entirely covered.
***
Deductible in which the insurer has no liability if the loss is under a certain amount, but once this amount is exceeded, the entire loss is paid in full.
***
Type of deductible which originated with marine Insurance under which no claim is payable unless if exceeds a stated amount or a stated percentage of the amount of Insurance. For any loss which exceeds that amount or percentage, the entire amount of the loss is paid.