Home Insurance Costs Are Affected Most Directly By

question 84

Multiple Choice

Home insurance costs are affected most directly by:

• A) the profits of the insurance company.
• B) insurance agents' commission.
• C) government regulations that set premiums.
• D) processing costs of claims.
• E) the number of claims in an area.

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Definitions:

Specified Period

A defined duration or timeframe during which certain actions, events, or conditions are intended to take place or be in effect.

Contractually Committed

A term indicating that parties are legally obliged to carry out the terms of a contract, including payments, deliveries, or services.

Blanket Lien

A lien that gives the lienor the entitlement to take possession of any or all of the lienee's real and personal property to satisfy a debt.

Chattel Mortgage Agreement

An arrangement where a loan is secured by moveable personal property, which remains in the possession of the borrower.