Friday, May 19, 2017
contractors to rebuild your house.
For example, suppose you have a
homeowners insurance policy. You pay $1,000 per year in premiums for a policy
with a face value of $200,000, which is what the insurance company estimates it
would cost to completely rebuild your house in the event of a total loss. One
day, a huge wildfire envelopes your neighborhood and your house burns to the
ground. You file a claim for $200,000 with your insurance company. The company
approves the claim. You pay your $1,000 deductible, and the insurance company
covers the remaining $199,000 of your loss. You then take that money and use it
to hire contractors to rebuild your house.
company will cover some portion of a
What is insurance? Insurance is a contract between an individual (the policyholder) and an insurance company. This contract provides that the insurance company will cover some portion of a What is insurance? Insurance is a contract between an individual (the policyholder) and an insurance company. This contract provides that the insurance company will cover some portion of a What is insurance? Insurance is a contract between an individual (the policyholder) and an insurance company. This contract provides that the insurance company will cover some portion of a
insurance company will pay the rest.
What is insurance? Insurance is a contract between an
individual (the policyholder) and an insurance company. This contract provides
that the insurance company will cover some portion of a policyholder’s loss
What is insurance? Insurance is a contract
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