A(n)________ is an amount of any loss that is to be paid by the insured and can be a specified dollar amount,a percentage of the claim amount,or a specified amount of time that must elapse before benefits are paid.

Question

Quizplus · Accepted Answer

A deductible is an amount that the insured must pay before the insurance company pays out benefits. Deductibles can be a fixed dollar amount, a percentage of the claim amount, or a specified waiting period. This helps to reduce the insurer's risk and keeps premiums lower for the insured.

A(n)________ Is an Amount of Any Loss That Is to Be