Why do you believe auto insurance companies provide premium relief?

Q: For automobile insurance, Describe how risk can be managed. Evaluate the risks in society.…

A: Automobile insurance is a type of insurance that provides financial protection for damages or…

Q: Is self-insurance the same as going without insurance? Why or why not?

A: The advantages of being self-insured area unit value savings and management of the insurance…

Q: Is disaster insurance unfair to insurance companies ? Explain your answer and provide an example.

A: Disaster Insurance The meaning of disaster insurance is is different from the life insurance which…

Q: Explain why insurance companies charge a higher premium for car insurance sold to a youthful…

A: It is statistically seen that drivers who are of a more mature age tend to be involved in lesser…

Q: s it still beneficial for a person to have an insurance policy? Explain your answer in detail.

A: Insurance Policy - It is a written document between the insurer and policy holder. In which insurer…

Q: Describe a private insurance. what is it? Discuss the primary strengths and advantages, and…

A: Private Insurance means an insurance plan which is not operated by the government. It comes under…

Q: What are your recommendations for Insurance companies ?

A: 1.lapsation benifit to all 2. Reasonable refundable value 3. Single expense ratio

Q: you will suggest to someone, which is better to have a life insurance or non life insurance? Why?

A: Life insurance is related to death benefits and non life insurance is related to physical assets…

Q: What are the essential differences between social insurance and public assistance programs? Why is…

A: Social insurance program: It is a government sponsored program. They are generally funded through…

Q: Why insurance companies important for individuals?

A: A for-profit, non-profit, or government-owned firm that provides the promise to pay for particular…

Q: How much life insurance does an individual need?

A: Meaning of life insurance:life insurance is nothing but a contract between insurance company and…

Q: e insurance company's compensation

A: Insurance compensation is the amount received by the insured from the insurance company for the…

Q: Why insurance companies important for individuals and businesses?

A:

Q: Who are the target customer of insurance companies?

A: Future events are uncertain and unavoidable, due to which risk arises. There are various methods to…

Q: Why does group life insurance use a formula to determine the amount of insurance per employee?

A: Group term life insurance: Group term life insurance refers to a type of term insurance in which one…

Q: will suggest to someone, which is better to have a life insurance or non life ins

A: Insurance is very necessary to prevent the uncertainty and risk.

Q: If you will suggest to someone, which is better to have a life insurance or non life insurance

A: Non-life insurance is also known as general, property, and casualty insurance. It's any insurance…

Q: What is the importance of insurance companies?

A: Insurance firms are financial middlemen that provide direct insurance or reinsurance services,…

Q: What levels and kinds of risks are properly and mosteconomically passed on to insurance carriers?

A: Levels of risk are: High It involves a huge amount of risks involved that are needed to be insured…

Q: 2. What are the major factors involved in determining how much life insurance coverage a person or…

A: Life insurance is a contract in which an insurance company commits to pay a set sum following the…

Q: insurance is relevant to the public an

A: Insurance is an agreement between two parties in which the insurer should pay money against which…

Q: What is the economic rationale for compulsory auto insurance? Suppose motor insurance coverage was…

A: Insurance as a sector is key to the development of any economy. Providing Security and Protection…

Q: What does the affordable care act do for those not insured?

A: Affordable Care Act is a comprehensive healthcare reform which has been introduced from March, 2010,…

Q: What type of information is entered for insurance and why is insurance important?

A: Insurance is a way to protect oneself from financial loss. It is a type of risk management that is…

Q: What are the differences between an insurance agent and an insurance broker? Discuss.

A: Insurance brokers are individuals that sells, buy or negotiate variety of financial products that…

Q: Which of the following is not one of the factors that affects automobile insurance premiums?

A: Automobile insurance is most common types of insurance. All factors related to vehicle will affect…

Q: What are the benefits of having third-party insurance?

A: When insurance is purchased for protection against claims of other persons, the insurance is called…

Q: What actions can a person take to reduce the cost of automobile insurance?

A: Automobile insurance is the instrument that is used to cover the losses or harm to vehicles that…

Q: Name the coverage for auto insurance. Covers the costs of lawsuits if someone is injured or killed…

A: Whether you buy or lease a vehicle, it's vital to protect your investment. If you are in an…

Q: A Personal Liability Umbrella isn't required for most people, but certainly can be valuable. At what…

A: Insurance is a policy or in other words is a contract in which the insurance company promises to…

Q: What were your feelings about your need for life insurance before you read this chapter? What are…

A: Insurance is a means of mitigating risk. When you buy insurance, you are purchasing protection…

Q: Do risk influence people to go for insurance? What is the relationship between risk and insurance?

A: Yes, risk influences people to go for insurance. Several kinds of risks influence a person to get…

Q: Why are people often willing to pay more for insurance than the expected valueof the coverage?

A: Insurance coverage is the amount of risk covered for an individual which are assured by insurance…

Q: Which is not a factor that will usually affect your auto insurance premium?

A: The amount of money paid for the insurance policy taken is called the insurance premium. It is the…

Motor Vehicle Insurance

Motor vehicle insurance is a contract between the insurance company that provides insurance cover and the person who owns the vehicle. According to the terms and conditions of the insurance contract, the insurance company reimburses the policyholder for losses and damages. This insurance policy covers the financial risks of the motor vehicle owner. Electronic vehicles are also covered in a vehicle insurance policy, but the insurance rate is relatively higher than other motor vehicle insurance. Motor vehicle insurance is otherwise called an automotive insurance policy.