A deductible is the amount you are willing to pay directly before your insurance comes in to care for the rest. The more the amount, the less it costs to have a monthly premium. However, ensure that you can afford the higher deductible in case you need to make a claim.A deductible is the amount you are willing to pay directly before your insurance comes in to care for the rest. The more the amount, the less it costs to have a monthly premium. However, ensure that you can afford the higher deductible in case you need to make a claim.A deductible is the amount you are willing to pay directly before your insurance comes in to care for the rest. The more the amount, the less it costs to have a monthly premium. However, ensure that you can afford the higher deductible in case you need to make a claim.