What is a "deductible"? Published by Chris Harvey August 9, 2007 A deductible is the amount of money you must pay “out-of-pocket” before the travel insurance plan will reimburse you for your expense. Related articles: Can I get live assistance with a quote or purchase? What information do I need to get a travel insurance quote? Should I buy travel insurance if my trip is within the USA? Does TravelSafe cover my frequent flier miles? Do any policies cover trip cancellation/trip interruption as a result of work related reason or business commitments?