With a higher monthly premium, Lauren's deductible may be lower than Jerry's, as premiums often influence deductible amounts in insurance.
The relationship between the monthly premium and the deductible in insurance policies is not always straightforward and can vary based on numerous factors, including the type of coverage, insurance company policies, and the specifics of the individual's insurance plan.
In general terms, a higher monthly premium often corresponds to a lower deductible and vice versa. However, this is a generalization, and exceptions exist. Some insurance plans might offer flexibility for individuals to choose their deductible within certain limits, irrespective of the premium paid.
Assuming Lauren has the same accident as Jerry but pays a higher monthly premium of $250, it could suggest that she has a more comprehensive insurance plan with a lower deductible compared to Jerry. Insurers may offer different plans with varying premium and deductible combinations to cater to the diverse needs and preferences of policyholders.
Question: Assume Lauren has the same exact accident but her monthly premium she pays for the insurance policy is $250. Would you expect Lauren’s deductible to be higher lower or the same as Jerry’s why