Insurance Flashcards
1
Q
compensate
A
to pay someone for the value of something lost or damaged
2
Q
deductible
A
the amount of money the consumer must pay for an insurance claim before the insurance policy pays the remainder
3
Q
insurance
A
a financial service in which a consumer makes regular payments in exchange for a guarantee that costs associated with damages will be covered
4
Q
liability
A
a responsibility to pay for or fix a problem
5
Q
premium
A
the amount a holder of an insurance policy must pay the insurance company for the protections the policy offers
