Deductible: $2000.00 Event 1 Description Tree damage Foundation repairs Repair cost $2,500.00 $25,000.00 Event 2 Which of the reasons listed below is a benefit of paying the entire repair cost of Event 1 out of pocket, without submitting an insurance claim? A. To avoid premium increases C. To avoid deductible changes B. The $500 difference is small D. Claims always cost more
Deductible: $2000.00 Event 1 Description Tree damage Foundation repairs Repair cost $2,500.00 $25,000.00 Event 2 Which of the reasons listed below is a benefit of paying the entire repair cost of Event 1 out of pocket, without submitting an insurance claim? A. To avoid premium increases C. To avoid deductible changes B. The $500 difference is small D. Claims always cost more
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Deductible: $2000.00
Event 1
Description Tree damage
Repair cost $2,500.00
A. To avoid premium increases
C. To avoid deductible changes
Event 2
Which of the reasons listed below is a benefit of paying
the entire repair cost of Event 1 out of pocket, without
submitting an insurance claim?
ational Academy of Science. All Rights Reserved.
Foundation repairs
$25,000.00
B. The $500 difference is small
D. Claims always cost more
Expert Solution
Step 1
Insurance claim
A formal request for compensation for damages covered by your insurance policy is known as an insurance claim. An insurance policy is a contract between you and your insurer. You are required to pay a set premium.
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