Which is not a factor that will usually affect your auto insurance premium?

Q: Is disaster insurance unfair to insurance companies ? Explain your answer and provide an example.

A: Disaster Insurance The meaning of disaster insurance is is different from the life insurance which…

Q: Most life insurance riders are expensive. O True False

A: An insurance policy is purchased in order to receive coverage for damages or losses that might occur…

Q: s it still beneficial for a person to have an insurance policy? Explain your answer in detail.

A: Insurance Policy - It is a written document between the insurer and policy holder. In which insurer…

Q: Describe a private insurance. what is it? Discuss the primary strengths and advantages, and…

A: Private Insurance means an insurance plan which is not operated by the government. It comes under…

Q: Why insurance companies important for individuals?

A: A for-profit, non-profit, or government-owned firm that provides the promise to pay for particular…

Q: Explain Default Insurance?

A: Insurance is defined as a type of protection is a lawful understanding between two parties for…

Q: How much life insurance does an individual need?

A: Meaning of life insurance:life insurance is nothing but a contract between insurance company and…

Q: will suggest to someone, which is better to have a life insurance or non life ins

A: Insurance is very necessary to prevent the uncertainty and risk.

Q: If you will suggest to someone, which is better to have a life insurance or non life insurance

A: Non-life insurance is also known as general, property, and casualty insurance. It's any insurance…

Q: Which of the following wouldn’t save you money on your auto insurance premium? * a. Decrease your…

A: The ways where insurance premium can be saved 1. Bundling the insurance with other policies 2.…

Q: What is the importance of insurance companies?

A: Insurance firms are financial middlemen that provide direct insurance or reinsurance services,…

Q: What is the relationship between risk management and insurance buying and why do some argue that…

A: The question is based on the concept of risk management and the use of insurance as a tool of risk…

Q: What levels and kinds of risks are properly and mosteconomically passed on to insurance carriers?

A: Levels of risk are: High It involves a huge amount of risks involved that are needed to be insured…

Q: How do insurance companies determine how much you should pay for your insurance coverage?

A: The amount of money paid for an insurance policy is termed as insurance premium. The premium is paid…

Q: What type of life insurance policy would give you investment choice?

A: Unit linked insurance plans (ULIP) is life insurance plans that having hybrid characteristics. This…

Q: Why would an insured inflate claims and who are the ones to suffer for it?

A: Insurance can be defined as the contract that is signed by an insurer indemnifies another person…

Q: Would you be willing to forgo health insurance or a retirementplan for higher salary or wages? Why…

A: Insurance: Insurance can be defined as the contract between the insurer and the insured where the…

Q: Briefly explain the factors that are considered in determining the premium for automobile liability…

A: SOLUTION- INSURANCE PREMIUM IS THE AMOUNT PAID BY THE PERSON WHO TAKE THE INSURANCE POLICY TO THE…

Q: Name a peril that is often excluded from an home or auto insurance policy.  Why is the peril…

A: Peril means an event causing fire or theft or damage to assets like home, auto mobiles etc Peril…

Q: What are the differences between an insurance agent and an insurance broker? Discuss.

A: Insurance brokers are individuals that sells, buy or negotiate variety of financial products that…

Q: Having convertible term life insurance is especially be nealth issues as you age. True O False

A: In this type of policy insurance company allow to change term policy to whole life insurance policy…

Q: What are the benefits of having third-party insurance?

A: When insurance is purchased for protection against claims of other persons, the insurance is called…

Q: What actions can a person take to reduce the cost of automobile insurance?

A: Automobile insurance is the instrument that is used to cover the losses or harm to vehicles that…

Q: What were your feelings about your need for life insurance before you read this chapter? What are…

A: Insurance is a means of mitigating risk. When you buy insurance, you are purchasing protection…

Q: How does renter’s insurance differ from other home insurance policies?

A: Insurance is a contract between the company and the individual for protecting the specific assets…

Q: Do risk influence people to go for insurance? What is the relationship between risk and insurance?

A: Yes, risk influences people to go for insurance. Several kinds of risks influence a person to get…

Q: Why are people often willing to pay more for insurance than the expected valueof the coverage?

A: Insurance coverage is the amount of risk covered for an individual which are assured by insurance…

Q: Why would insurance providers charge more for a policy holder who smokes versus one who doesn't…

A: Insurance policies such as life insurance policies and health insurance policies are basically…

Q: Why do we need FDIC insurance?

A: Insurance companies and agencies adopt financial strategies to manage various types of risks.…

Q: Please give and explain the numerical example of adverse selection that arises in life insurance…

A: In Insurance adverse selection refers to situations in which an insurance company extends insurance…

Q: What are the problems with return on premium life insurance? What type of individual would purchase…

A: Term life insurance guarantees payment of a stated death benefit if the covered person dies during a…

Motor Vehicle Insurance

Motor vehicle insurance is a contract between the insurance company that provides insurance cover and the person who owns the vehicle. According to the terms and conditions of the insurance contract, the insurance company reimburses the policyholder for losses and damages. This insurance policy covers the financial risks of the motor vehicle owner. Electronic vehicles are also covered in a vehicle insurance policy, but the insurance rate is relatively higher than other motor vehicle insurance. Motor vehicle insurance is otherwise called an automotive insurance policy.