From the standpoint of the insured, deductibles in insurance contracts are a form of:

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Deductibles require the insured to pay a portion of the loss out of pocket, representing a form of risk retention. The insured is retaining a certain level of risk in exchange for a lower premium. Risk transfer involves shifting the risk to another party, such as an insurer, while loss control and risk avoidance are measures taken to mitigate or avoid risk altogether.

From the Standpoint of the Insured, Deductibles in Insurance Contracts