Real Dictionary

deductible
adjective: If a payment or expense is deductible, it can be deducted from another sum such as your income, for example, when calculating how much income tax you have to pay.

deductible in American English
that can be deducted
adjective: capable of being deducted
noun: the amount for which the insured is liable on each loss, injury, etc., before an insurance company will make payment

deductible in British English
adjective: capable of being deducted

deductible in Insurance 1
adjective: A deductible amount is an amount deducted from payment due from an insurance premium, that must be paid by the insured person.

deductible in Insurance 2
noun: A deductible is a sum of money that you have to pay toward the cost of an insurance claim when the insurance company pays the rest.