The Amounts Paid to Insure the Property on the Purchaser's Behalf If Collected Form
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People also ask
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What is the amount the insured is responsible for in the event of a claim resulting from a risk not covered by the underlying policy?
Deductible. Some kinds of coverage have deductibles. A deductible is the amount of loss which the insured is responsible to pay. You usually pay a lower premium if you choose a higher deductible.
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What is a portion of the claim that must be paid for by the policy holder known as?
Deductible - The amount of the loss that the policyholder is responsible to pay up-front before covered benefits from the insurance company are payable.
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What insurance protects a property owner against monetary loss if his title is found to be imperfect?
What Is Title Insurance? Title insurance is a contractual obligation that protects against losses that occur when title to a property is not free and clear of defects (e.g. liens, encumbrances and defects that were unknown when the title policy was issued). Title insurance also guarantees loan priority.
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What is an amount that the insured is responsible for paying even when the service is covered by the insurance?
Copayment – A fixed amount (for example, $15) you pay for a covered health care service, usually when you receive the service (sometimes called “copay”).
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What is the amount of the insurance claim?
The claim amount in insurance refers to the money that an insurance company pays to the policyholder or beneficiary when a valid claim is made. This amount is determined based on the terms and conditions of the insurance policy.
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What is the amount the insured is responsible for paying when a claim is made?
A deductible is the amount of loss which the insured is responsible to pay. You usually pay a lower premium if you choose a higher deductible.
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What is the amount paid by the insured to the insurance known as?
An insurance premium equates to the money that is paid by any person or company/business for availing of an insurance policy. The insurance premium amount is influenced by multiple factors and varies from one payee to another.
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What is the right of the insurer to take possession of damaged property after paying for its loss called?
SALVAGE. Damaged property an insurer takes over to reduce its loss after paying a claim.
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