You have an insurance policy with a $300 premium and a $500 deductible. How much should you expect to pay the insurance company each month for coverage? A$200 B$300 C$500 D$800
Answers
Answered by
2
$300 I hope this answers is help u
Answered by
0
Answer: Option [B]
We have to pay $300 monthly for the coverage. This is because we have to pay the coverage amount which is the same as the insurance premium in favour of affording coverage by the insurance company.
The company takes care of the expenses and the risks involved up to that particular amount on a monthly basis. Amount surpassing this amount will have to be taken care by the insurer alone and he is held responsible for paying the exceeding amount.
As per the policy, the premium amount must be fixed throughout the period.
Similar questions