"I would have paid out around a thousand dollars in elements and repairs. I only paid [a small deductible] to have all three appliances repaired." You will find 5 meanings stated in OED's entry to the verb cinch. See ‘Meaning & use’ for definitions, utilization, and quotation proof. Such circumstances https://images.google.co.il/url?q=https://www.webwiki.de/kowear.com/cinch