What Is An Insurance Deductible Quizlet Budget Challenge
Think of it this way itâ s like a relay race.
What is an insurance deductible quizlet budget challenge. Premium amount of money an individual pays to have insurance coverage. William caused a minor accident that resulted in 800 of damages to his car and 1 100 of damages to the other car. Includes mobile app for paying bills on the go. Coinsurance usually splits the costs with the policyholder 80 20 percent.
What is an insurance deductible. William caused a minor accident that resulted in 700 of damages to his car and 1 100 of damages to the other car. Budget challenge is an online 10 week personal finance simulation with full curriculum and assessments. Watch our video and read about what s new with budget challenge this school year.
You run the first leg that s your deductible â and your insurance company finishes the race for you up to your coverage limit. William pays 300 every 6 months for automobile insurance and his deductible is 750. Copay plans may make it easier for insurance holders to budget their out of pocket costs because it is a fixed amount. A deductible is what you pay out of pocket toward a covered claim.
Claim formal request for payment based on an insurance policy. William s car looks and drives fine and he chooses not to file a claim to repair his car. Want to learn more about insurance. An insurance company and an individual.
His deductible is 750.
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