BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Roland will pay $100, the insurance company will pay $50, 000
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Roland will pay $100, the insurance company will pay $1000
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Roland will pay $1000, the insurance company will pay $1200
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Roland will pay $1200, the insurance company will pay $1000
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Detailed explanation-1: -Your insurance premium and deductible have an inverse relationship. As one increases, the other decreases-so a policy with a lower monthly premium will typically have a higher deductible, and a policy with a lower deductible will typically have a higher premium.
Detailed explanation-2: -An insurance premium is the amount of money an individual or business pays for an insurance policy. Insurance premiums are paid for policies that cover healthcare, auto, home, and life insurance. Once earned, the premium is income for the insurance company.
Detailed explanation-3: -Some factors that may affect your auto insurance premiums are your car, your driving habits, demographic factors and the coverages, limits and deductibles you choose. These factors may include things such as your age, anti-theft features in your car and your driving record.