Multiple choice

One of the methods of reducing insurance cost of an insured is __________

  1. reinsurance

  2. deductible

  3. co-insurance

  4. rebate

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Deductibles are the amount of money you have to pay for a loss before your insurance company starts to pay a claim, according to the terms of your policy. The higher your deductible, the more money you can save on your premiums.