An Increase in the Amount of the Deductible Will

question 13

Multiple Choice

An increase in the amount of the deductible will:

• A)increase the insurance coverage.
• B)decrease the replacement cost of the insured property.
• C)decrease the amount of insurance premiums.
• D)increase the personal property floater coverage for the insured property.
• E)decrease the value of the property.

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Definitions:

Social Practices

Refers to the habitual, widely accepted behaviors, norms, and routines that shape the daily activities and interactions of people within a society or community.

Competitive Advantage

A condition that allows a company or organization to produce goods or services more effectively than competitors, leading to greater sales or margins.

Customer Satisfaction

The measure of how products or services supplied by a company meet or surpass customer expectation.

Annual Spend

The total amount of money a company or individual spends over the course of a year, often used in the context of budgeting and financial planning.