Question

3. It is an insurance that protects people from financial difficulties in times of
unexpected illnesses or accidents.​

Answer 1

Answer:

Auto insurance protects the policy holder against financial loss in the event of an incident involving a vehicle they own , such as in a traffic collision .

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Answer 2

The statement is true that insurance protects people from financial difficulties in times of unexpected illness or accidents.

• In simple words, insurance safeguards the interests of people by providing them money at the time of their need.
• A person who takes the insurance, pays some amount monthly, quarterly or yearly to the insurance company.
• This amount collected by insurance company is called premium and it is returned to the customer in their difficult time of unexpected illness, accidents, theft, fire, damage, etc.
• At the time of emergency, the financial help from the insurance company supports the person.