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By: JaZayla Huggins Cornelius 3rd
10.3 Explain basic insurance concepts: insurance, policyholder, premium, probability, risk, claim, coverage, deductible, policy, insured, insurer, and liability.
Insurance is very helpful protection from financial loss.
Go to an insurer to sign up for insurance
You'll have to deicde who's name will go in as the policyholder and select a premium to pay
the insurance company has to determine the probability of risk you have
When was your last accident? How often do accidents occur?
Make a claim to determine if the compnny will give you full coverage or you'll have to pay a deductible
In the event, that something happens
After looking at your claim, your insurer will determine your liability and see if you're insured by the policy
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