Sort Policy Cost Terms
Match common insurance cost terms to the cost-sharing role they play.
Sort each policy term by the cost role it usually plays. Price to buy coverage Insured pays first or shares loss Insurer payment cap Policy valuation or formula Annual premium paid to keep the policy in force. The first $25,000 of a covered property loss paid by the insured. The $1,000,000 maximum for a covered liability claim. A $100,000 cap for a specific coverage like debris removal. A self-insured retention the insured must satisfy before the policy responds. A percentage formula that can require the insured to share part of a loss. Replacement cost valuation for repairing or replacing damaged…
Sign up free — one personalized lesson every day, matched to your role and goals.
Already have an account? Sign in