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The deductible is the amount of the loss you agree to pay or absorb in the event of a claim or accident. Let's say you have a $250 deductible. If you have a fender-bender, and the bodywork costs $1150, you will pay the deductible - $250, and your insurance company will pay the balance - $900. With auto insurance in Arizona, deductible amounts typically range from $500 to $1,000 per claim. Choosing a higher deductible reduces the cost of your insurance.