Question

write a one page paper stating the various components of car insurance. Include sources.

Answer 1

Two of tge most important components of all car insurance policies are the premium and the deductible. A firm understanding of these two concept goes a long way to helping you to choose the policy that is best of you.

A policy's premium is simply its price, typically expressed as a monthly cost. the premium is determined by the insurance company based on your, for your business risk profile. for example if you on several expensive automobiles and have a history of reckless driving you pay more of an auto policy then someone with a single mid range sedan and a perfect record. however, different insurer may charge different Premium for small policies so find the price that is right for your requires some legwork.

the second important policy component is the deductible whenever you make a claim, you are required to meet a minimum out of pocket expenses or detectable, before the insurance company pays for your losses. detectable can apply per policy or per claim depending on the insurer and the type of policy.