Deductible Affect Insurance Case Study

. What is a deductible? How does a deductible affect insurance? The amount of money that the policy holder will pay before the insurance company will pay on an insured loss. With a deductible, you are responsible for paying a certain amount before the insurance company will pay the rest of the insured amount to fix your car.
2. What is risk classification? The assessment and categorization of the characteristics that influence a person's risk of loss.
3. What are riders? How do they affect insurance? Supplemental insurance for items or situations that are excluded or limited under the regular policy. The rates for riders are often substantially more than the premiums on regular policies, but they can be useful if you want to insure items not normally covered or to extend the amount of your coverage.
4. What are five elements commonly found in contracts?The Offer: In a contract, one party is offering something to another party. The Acceptance: The acceptance of the offer by the second party is also known as the concurrence of wills or consensus ad idem (meeting of the minds). Consideration: With a contract, consideration is
Consider your home and possessions. What types of risks do you face? What insurance would you recommend to someone in a similar location? The type of risks that I take by living by the river is, my house getting flooded out. Another risk is my house flooding away. Insurance that I would recommend would be flood insurance.
3. What are personal, property, and liability risks? What are examples of personal, property, and liability risk? A property risk is paying a older property and you find out that there a big problem with the house you didn’t see when you first bought the house. A personal risk is business insurance because that insurance is paying money to the sick of the business. A liability risk is car insurance because if you get into a wreck and it’s your fault, you can have to pay for everything.
4. Why is estate planning