An insurance contract is defined as a ________.

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An insurance contract is commonly referred to as a policy. It is a legal agreement between the insurer and the insured where the insurer agrees to pay for losses or damages in exchange for a premium paid by the insured. Option B, premium, refers to the amount paid by the insured to the insurer for coverage. Option C, lien, refers to a legal claim against a property to secure the payment of a debt or obligation. Option D, writ, generally refers to a written court order or legal document.

An Insurance Contract Is Defined as a ________