Sentence: "The insured should bare that portion of loss".

Is the sentence correct:

“The insured should bare that portion of loss which is called Deductible”. — (this is insurance terminology)

Or

“Deductible is the portion of the loss which should be bared by the insured”

Regards,
Suresh

The verb is ‘bear’, not ‘bare’!

The insured bears that portion of the loss which is deductible according to the policy.

Thanks Mister Micawber, for the correction and the answer.