Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Chapter C.4, Problem C.4AQ
Summary Introduction

To discuss: The amount to be paid for the auto insurance policy.

Introduction: Insurance is a policy formulation with a written contract that is an evidence of promise by the insurance company to pay for the losses or a part of losses of the insured.

Premium is the amount of fee charged by the insurance company to provide insurance to the individuals at a regular period.

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