A deductible is the
A) proportion of the loss the insured must pay after the insurance company pays an initial amount.
B) amount of a loss the insurer must reimburse the insured after a loss.
C) proportion of the loss the insurer must pay before the insured pays any of the cost.
D) amount of a loss the insured must pay before the insurance company will pay any insurance benefits.
Correct Answer:
Verified
Q34: Correlated risks are
A) a perfect storm of
Q35: The principal of indemnity, which underlies insurance
Q36: Jerome insured his home for $120,000. He
Q37: If an agent added a rider to
Q38: If there is an exclusion on your
Q40: The principle of indemnity means that an
A)
Q41: A deductible requires the policyholder to pay
A)
Q42: Insurance policies often include terms and conditions
Q43: The law of large numbers holds that
Q44: If Sharon Johnson, a 49-year-old experienced driver,
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