Final answer:
The legal type of coverage in each province/territory can be determined by the statutory requirements and coverage duration. The policyholder's occupation may also influence the type of coverage needed. The deductible amount is the portion of the claim that the policyholder is responsible for paying.
Step-by-step explanation:
Statutory Requirements: The legal type of coverage in each province/territory refers to the specific requirements outlined by the government for insurance coverage. These requirements differ from one province/territory to another and may specify the minimum coverage levels or types of insurance needed.
Policyholder's Occupation: The policyholder's occupation is not typically a legal type of coverage in provinces/territories. However, certain professions may have specific insurance requirements or options based on the nature of their work.
Coverage Duration: The coverage duration refers to the length of time that an insurance policy provides coverage. The duration can vary based on the type of insurance and the terms outlined in the policy.
Deductible Amount: The deductible amount is the portion of an insurance claim that the policyholder is responsible for paying before the insurance company covers the remaining costs. The deductible amount can vary based on the policy and the specific coverage.