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unit 4 terms - Coggle Diagram
unit 4 terms
Building & Other Structures- House, garage, shed, landscaping
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Personal Property - Jewelry, furniture, art, appliances (add more with a floater)
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Insurance- practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium.
Deductible- The amount you have to pay out-of-pocket for expenses before the insurance company will cover the remaining costs.
Co-insurance- The percentage of costs of a covered health care service you pay (20%, for example) after you've paid your deductible.
Claim- A formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event.
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