Which of the following best describes how auto insurance companies manage risk?

all insured

Which of the following insurance types will cover the possessions inside your home a?

Homeowners insurance covers your home as well as your possessions inside it, while renters insurance only covers the items in your home. Health insurance helps cover the cost of any medical expenses, including doctor visits, prescriptions, trips to the emergency room or stays in the hospital.

What is premium Everfi?

The premium is the amount you pay the insurance company for coverage. Premium payments may be due all at once or divided and paid on a regular basis, usually monthly. … The deductible is the amount you are personally required to pay “out-of-pocket” toward each claim before your insurance kicks in.

What can insurance protect you from Everfi?

How can insurance protect you from financial loss? Insurance can cover you or your property in case of an accident, theft, or another unpredictable event. Insurance can offer easy monthly payment options for premiums. Insurance can offer low co-insurance policies.

Which of the following is another term for insurance company?

What is another word for insurance company?insurerbrokerguarantorunderwriterinsurance agentsponsorbackersupportervoucherbondsman

What premium means?

Definition: Premium is an amount paid periodically to the insurer by the insured for covering his risk. Description: In an insurance contract, the risk is transferred from the insured to the insurer. For taking this risk, the insurer charges an amount called the premium.

Which definition best describes an insurance premium?

An insurance premium is the amount of money an individual or business pays for an insurance policy. … It also represents a liability, as the insurer must provide coverage for claims being made against the policy.

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Which type of insurance will require you to pay the least out of pocket?

Insurance and TaxesQuestionChoicesAnswerIf you cause a car accident, which type of insurance will require you to pay the least out of pocket?A. High deductible plan. B. Low deductible plan. C. Either A or B. D. Neither A nor BB. Low deductible plan

Can insurance protect you from financial loss?

Insurance policies offer protection against economic loss, that is, loss or damage which can be measured in purely financial terms and compensated by money. … When you buy homeowners property insurance, for example, you are insuring only the economic value of the home, i.e., the cost to repair or rebuild it.

What does the W 2 form tell you Everfi quizlet?

What does the W-2 form tell you? How much you’ve earned and how much taxes you’ve paid in the last year. When to file your tax return. How often your employer will be paying you.

What are the 5 parts of an insurance policy?

Every insurance policy has five parts: declarations, insuring agreements, definitions, exclusions and conditions. Many policies contain a sixth part: endorsements. Use these sections as guideposts in reviewing the policies.

What are the components of insurance?

Life, health, homeowners, and auto are the most common forms of insurance. The core components that make up most insurance policies are the deductible, policy limit, and premium.

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