Which of the following is NOT a type of deductible?

The term that does not represent a type of deductible is variable. In insurance terminology, deductibles are usually categorized into more standardized forms. A franchise deductible is a specific threshold that must be met before the insurance coverage kicks in. Fixed deductibles represent a predetermined amount that the policyholder must pay out of pocket before the insurance company begins to pay for a claim. Percentage deductibles are based on a percentage of the total claim amount or the insured value of the property rather than a fixed monetary amount.

Variable, while it may suggest fluctuations, is not a recognized type of deductible in the context of insurance. It lacks the established framework that delineates how the other types function in the claims process. Understanding the defined types of deductibles is important for both assessing insurance policies and determining potential out-of-pocket costs for a policyholder.