Annual Deductible vs Deductible Per Policy Period
With an annual deductible, you only pay the deductible once per year. With the other, you pay the deductible for each policy period. For both options, the deductible must be paid before insurance begins paying for covered benefits. The higher your deductible, the lower your insurance cost will be, whereas if you choose a lower deductible, your insurance cost will likely be higher.