Question

You have an insurance policy with a $300 premium and a $500 deductible. How much should you expect to pay the insurance company each month for coverage? $200 $300 $500 $800You have an insurance policy with a $300 premium and a $500 deductible. How much should you expect to pay the insurance company each month for coverage? $200 $300 $500 $800You have an insurance policy with a $300 premium and a $500 deductible. How much should you expect to pay the insurance company each month for coverage? $200 $300 $500 $800

Answer 1

If I'm not mistaking you should have to pay $300 a month.

Have a very nice day. :P

Answer 2

$300 is expected to be paid to the insurance company each month for coverage.

Explanation:

Deductible is the set amount that one pays himself at the time of claiming insurance. Like here, if $500 is deductible, that means when the person will claim the insurance, he himself will pay $500 ,and the rest insured amount will be paid by the company.

So, here $300 is the monthly premium and $500 deductible is the one time set amount that does not have to be paid monthly.

Hence, $300 is the correct answer.