BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$62
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$124
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$186
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$372
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Detailed explanation-1: -Jeff has to pay his car insurance annually. His total bill is $744. He needs to save some amount each month to pay for his car insurance. So Jeff needs to save $62 each month to pay for his car insurance.
Detailed explanation-2: -Own Damage premium = IDV X [Premium Rate (decided by insurer)] + [Add-Ons (eg. bonus coverage)] – [Discount & benefits (no claim bonus, theft discount, etc.)] This component of your car insurance premium goes beyond your car, and safeguards you, not only against accidents, but mishaps leading to a disability.
Detailed explanation-3: -As per industry experts, there is no restriction to the number of claims you can file under your car insurance policy in a year. In cases of frequent damage to your vehicle due to accidents, you can file as many claims as you want.