Basics to Help You Understand How Ins…
https://www.thebalancemoney.com/basics-to-help-you-understand-how-insurance-works-4783595
Key Takeaways Insurance is a way of protecting yourself from certain risks by paying a fee to an insurance company. The fee you pay is called a premium, and it can be paid monthly, quarterly, or semi-annually. The insurance company agrees to pay you for losses if they occur, up to a certain amount. This amount is called the coverage amount. Before the insurance company pays you, you may have to pay a part of the loss yourself. This is called the deductible. To get paid by the insurance company, you have to file a claim and follow the directions. When you buy insurance, you make payments to the insurance company. These payments are called "premiums." Premium: Amount you pay for your coverage, with payments set monthly, quarterly, or semi-annually.
Insurance is a way of protecting yourself from certain risks by paying a fee to an insurance company.
The fee you pay is called a premium, and it can be paid monthly, quarterly, or semi-annually.
The insurance company agrees to pay you for losses if they occur, up to a certain amount. This amount is called the coverage amount.
Before the insurance company pays you, you may have to pay a part of the loss yourself. This is called the deductible.
To get paid by the insurance company, you have to file a claim and follow the directions.
When you buy insurance, you make payments to the insurance company. These payments are called "premiums."
Premium: Amount you pay for your coverage, with payments set monthly, quarterly, or semi-annually.
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