Deductibles are an important component of many insurance policies, and understanding the different types available can help you make the best choice for your needs. The two main types of deductibles are fixed-dollar and percentage-based. A fixed-dollar deductible means that the policyholder must pay a predetermined amount before their coverage kicks in; this amount remains constant regardless of how much is claimed. Percentage-based deductibles, on the other hand, require the policyholder to pay a certain percentage of any claim up to a certain limit. For example, if a policyholder has a 5% deductible, they would need to pay 5% of any claim up to $1,000 before their coverage kicks in.

It's also important to note that some policies may have multiple levels or tiers of deductibles when it comes to different types of claims or services. This means that different amounts may be required for particular services such as medical care or property damage repairs. Additionally, some insurance policies may include additional features such as copays or coinsurance which require policyholders to pay part of their own costs even after their deductible has been met.

When selecting an insurance plan with a deductible, it's important to consider what type best suits your particular situation and budget. Fixed dollar amounts tend to provide more stability since they remain constant no matter how much is claimed; however, these plans tend to come with higher premiums than those with percentage-based deductibles. Percentage-based deductibles can offer lower premiums but may end up costing more over time due to changes in claims amounts over time. Ultimately, choosing an appropriate deductible is an individual decision based on personal preference and financial resources.