Insurance policy __________ help(s) to protect insurers from having to pay for small losses.

Question

Quizplus · Accepted Answer

Insurance policy deductibles help to protect insurers from having to pay for small losses. This is because the deductible is paid by the insured. In the event that a loss occurs, the policy holder will be required to pay the initial amount of the loss, up to the deductible amount. A higher amount of deductible will usually reduce the amount of premium that is required to be paid by the insured. This also reduces the risk to the insurance company.

Insurance Policy __________ Help(s) to Protect Insurers from Having to Pay