Question

One of the methods of reducing insurance cost of an insured is __________ options

Answer 1

Answer:

copay

Explanation:

sharing first few percentage of risk with insured

Answer 2

Answer:

One of the methods of reducing insurance cost of an insured is deductible

Explanation:

Before the insurance coverage starts, the insurer will pay an amount of money is termed as deductible.  

Eg. If you take a home loan, deductible differ for loss due to earthquakes, flood or other natural disaster and it differs for home and contents. How much ever the deductible is low, the payment will be higher.

So, if you want to save your money always raise your deductible. What claim in this context means loss due to accident (in case car, auto, or other transportation devices)or natural disaster.