What is the purpose of a deductible in the context of an insurance policy?
A) Risk of loss is shared between the insurer and insured.
B) Certain types of losses are excluded from coverage.
C) The insurer is entitled to deduct defence costs from its payout to the insured.
D) The amount of the insurance proceeds is reduced if the insured is partly at fault.
Correct Answer:
Verified
Q8: Upon which of the following qualifications being
Q9: An insured has noted on its insurance
Q10: Allowing people to insure property that they
Q11: What type of insurance would provide payment
Q12: When an insurer compensates an insured,it has
Q14: Which term refers to a clause that
Q15: What is the name given to the
Q16: Which of the following is a distinguishing
Q17: Which of the following is an implication
Q18: What is the purpose of the requirement
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents