BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Buy 2 of the same phone so that you have a backup phone in case the original breaks or needs replacement.
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Trust that your auto insurance will cover any damages to your phone.
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Never use your cell phone outside of your house so it is less prone to being damaged, lost, or stolen.
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Put aside money that is equal to the monthly premium in a savings account, in case of phone repairs or replacement.
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Detailed explanation-1: -Ask for higher deductibles Deductibles are what you pay before your insurance policy kicks in. By requesting higher deductibles, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by 15 to 30 percent.
Detailed explanation-2: -In the case of any claim under the policy, the claim would be payable to the lender.
Detailed explanation-3: -Purpose of insurance Its aim is to reduce financial uncertainty and make accidental loss manageable. It does this substituting payment of a small, known fee-an insurance premium-to a professional insurer in exchange for the assumption of the risk a large loss, and a promise to pay in the event of such a loss.