Insurance is
Insurance in terms of coverage. Insurance is an agreement bound between the insurer and the insured. In insurance there is a term premium. Premiums or contributions are used to provide benefits as well as to replace losses such as damage or loss to the insured.
There are six basic principles in insurance:
Insurable interest
Utmost Good Faith
Proximate Cause
Indemnity
Subrogation
Contribution
Insurance in terms of coverage. Insurance is an agreement bound between the insurer and the insured. In insurance there is a term premium. Premiums or contributions are used to provide benefits as well as to replace losses such as damage or loss to the insured.
There are six basic principles in insurance:
Insurable interest
Utmost Good Faith
Proximate Cause
Indemnity
Subrogation
Contribution
Many people use insurance to protect their cars and homes. They pay premiums every month. If loss and damage occurs, the insurer prepares to pay the claim. Usually what they receive when payment of claims is far greater than when they pay every month. Very far the difference between payments and claims
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