plz help, its for a school project thats due tommorow
2007-03-18 14:53:30 · 5 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
The deductible is the amount you have agreed to pay out of pocket if you have a claim to pay. Your deductible is $500, the damage is $900, you pay $500 and insurance pays the remaining $400. The lower the amount you are willing to pay the higher your premium, and the reverse is also true.
2007-03-18 15:02:24 · answer #1 · answered by oklatom 7 · 1⤊ 0⤋
A deductible is the amount you must pay out of pocket in the event of an accident before the insurance company pays the rest. A higher deductible (the more you have to pay in the event of an accident) means a lower premium.
2007-03-18 15:04:58 · answer #2 · answered by financial-guru 2 · 0⤊ 1⤋
The deductible is the amount you agree to pay before the insurance company starts paying. If your insurance premium is lowered, that's great, but has nothing to do with your deductible.
2007-03-19 06:50:52 · answer #3 · answered by fisherwoman 6 · 0⤊ 0⤋
Maybe, however I'm not 100% certain
2016-09-19 08:00:07 · answer #4 · answered by Anonymous · 0⤊ 0⤋
is anyone able to tell what is the correct answer for this question?
2016-08-23 21:30:23 · answer #5 · answered by Anonymous · 0⤊ 0⤋