What Is An Insurance Deductible Quizlet Budget Challenge

William s car looks and drives fine and he chooses not to file a claim to repair his car.

What is an insurance deductible quizlet budget challenge. Deductible amount of money the individual pays for the unexpected event before insurance or warranty will pay any money. What is an insurance deductible. Claim formal request for payment based on an insurance policy. Copay plans may make it easier for insurance holders to budget their out of pocket costs because it is a fixed amount.

Think of it this way itâ s like a relay race. Includes mobile app for paying bills on the go. An insurance company and an individual. William pays his 500 premium every 6 months for automobile insurance with collision coverage.

Budget challenge is an online 10 week personal finance simulation with full curriculum and assessments. His deductible is 750. Watch our video and read about what s new with budget challenge this school year. A deductible is what you pay out of pocket toward a covered claim.

William pays 300 every 6 months for automobile insurance and his deductible is 750. Coinsurance usually splits the costs with the policyholder 80 20 percent. Budget challenge unexpected events. You run the first leg that s your deductible â and your insurance company finishes the race for you up to your coverage limit.

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