insurance assessment discrete

norris has a high deductible of 1,000$. He damages his car in an accident and it will cost $3,300 to repair. How much does she have to pay?

1,000

alicia has a collision deductible of $500 and a bodily injury liability coverage limit of $50,000. She hits another driver and injured them severely. The case goes to trial and there is a verdict to compensate the injured person for 40,000. How much does she pay?

40,500

the___the actuarial value of your health insurance plan, the____your monthly premium

Lower, higher

healthcare marketplace

a service that helps people shop for and enroll in affordable health insurance

what type of auto coverage is required by nearly every state

bodily injury liability

if your car is damaged in an accident it is

collision coverage

a flood damages your car. what kind of coverage must you have in order for the insurance company to help over the cost of repairs?

comprehensive

health insurance

insurance coverage that pays for medical, surgical, and sometimes dental expenses incurred by the insured.

Comprhensive insurance

is auto insurance coverage that protects your car against damage not resulting for a collision, as well as from theft.

I am the one you call when you damage to other people and their vehicles

liability coverage

insurance

protection from financial loss

liability insurance

provides the insured party with protection against claims resulting from injuries and damage to people or property.

Premium

the amount of money an individual or business pays for an insurance policy

Deductible

the amount paid out of pocket by the policy holder before an insurance provider will pay the expenses.

out of pocket maximum

the maximum amount you will have to pay out of pocket in one year for the benefits your insurance covers.

why is it important for insurance companies to have a large pool of people paying premiums?

the premium payments of all the insured clients will cover the costs for the emergencies of the few who need it