What Does Disappearing Deductible Mean?
A disappearing deductible is a form of coverage that pays only for a specific amount of loss and will not pay for an amount below it. But after a period of time, the insured will pay less for deductibles until they no longer pay anything at all as the insurance pays for the losses entirely.
Insuranceopedia Explains Disappearing Deductible
The disappearing deductible is a feature in some insurance policies. In some car insurance policies, this option is offered as an incentive for drivers with a good driving record. In these cases, the insured lowers their deductible every year that they drive without accident. After years driving accident-free with a disappearing deductible on their policy, they will no longer have to pay a deductible and the insurer will handle the entirety of the loss in the event of an accident.