Which one (1) of the following statements accurately describes a deductible clause in an insurance policy? OA) It is waived if the risk is insured to value. OB) It specifies the amount in excess of which an insurer will pay a loss. OC) It disappears when the loss exceeds a specified amount. OD) It usually applies to valued policies.
Which one (1) of the following statements accurately describes a deductible clause in an insurance policy? OA) It is waived if the risk is insured to value. OB) It specifies the amount in excess of which an insurer will pay a loss. OC) It disappears when the loss exceeds a specified amount. OD) It usually applies to valued policies.
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![Which one (1) of the following statements accurately describes a deductible clause in an insurance policy?
OA) It is waived if the risk is insured to value.
OB) It specifies the amount in excess of which an insurer will pay a loss.
OC) It disappears when the loss exceeds a specified amount.
OD) It usually applies to valued policies.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F90502412-4b42-4711-a1f0-0436bb4aba86%2Ff94375ae-5612-4839-9119-07caff456952%2Fu8iby6_processed.png&w=3840&q=75)
Transcribed Image Text:Which one (1) of the following statements accurately describes a deductible clause in an insurance policy?
OA) It is waived if the risk is insured to value.
OB) It specifies the amount in excess of which an insurer will pay a loss.
OC) It disappears when the loss exceeds a specified amount.
OD) It usually applies to valued policies.
![Which one (1) of the following statements accurately describes a
deductible clause in an insurance policy?
It is waived if the risk is insured to value.
It specifies the amount in excess of which an insurer will pay a loss.
It disappears when the loss exceeds a specified amount.
It usually applies to valued policies.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F90502412-4b42-4711-a1f0-0436bb4aba86%2Ff94375ae-5612-4839-9119-07caff456952%2Fdqidxht_processed.png&w=3840&q=75)
Transcribed Image Text:Which one (1) of the following statements accurately describes a
deductible clause in an insurance policy?
It is waived if the risk is insured to value.
It specifies the amount in excess of which an insurer will pay a loss.
It disappears when the loss exceeds a specified amount.
It usually applies to valued policies.
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