How can insurance protect you from financial loss?
When you buy insurance, you purchase protection against unexpected financial losses. The insurance company pays you or someone you choose if something bad happens to you. If you have no insurance and an accident happens, you may be responsible for all related costs.
Why is it important to have insurance quizlet?
Why is it important to have insurance? - It's important to have insurance so people can protect themselves from losing a lot of money in the event of an unpredictable event or something happens to them or their property.
What is an insurance deductible quizlet?
What is a deductible? The amount of the loss you pay when you file an insurance claim before the insurance company pays any money.
What is an insurance premium quizlet?
An insurance premium is the amount of money that an individual or business must pay for an insurance policy. The insurance premium is income for the insurance company, once it is earned, and also represents a liability in that the insurer must provide coverage for claims being made against the policy.
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