What You must Know about the best Insurance Policy Deductible: Insurance deductibles are the amount of money you are expected to pay out of your pocket at the occurrence of the protected peril. At the occurrence of the risk insured, the insured will be expected to move to the insurance company for him to be indemnified of the loss. in which case, the insurer may demand of the insured to pay certain sum which the amount the insured person agreed to pay at the occurrence of the risk.