Which one (1) of the following statements accurately describes a deductible clause in an insurance policy? OA) It is waived if the risk is insured to value. OB) It specifies the amount in excess of which an insurer will pay a loss. OC) It disappears when the loss exceeds a specified amount. OD) It usually applies to valued policies.
Which one (1) of the following statements accurately describes a deductible clause in an insurance policy? OA) It is waived if the risk is insured to value. OB) It specifies the amount in excess of which an insurer will pay a loss. OC) It disappears when the loss exceeds a specified amount. OD) It usually applies to valued policies.
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Transcribed Image Text:Which one (1) of the following statements accurately describes a deductible clause in an insurance policy?
OA) It is waived if the risk is insured to value.
OB) It specifies the amount in excess of which an insurer will pay a loss.
OC) It disappears when the loss exceeds a specified amount.
OD) It usually applies to valued policies.
Transcribed Image Text:Which one (1) of the following statements accurately describes a
deductible clause in an insurance policy?
It is waived if the risk is insured to value.
It specifies the amount in excess of which an insurer will pay a loss.
It disappears when the loss exceeds a specified amount.
It usually applies to valued policies.
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