Answer:
Comprehensive deductible
Step-by-step explanation:
There is nothing called Premium deductible rather deductible determines how higher of lower a premium on a subject matter of insurance can be. Deductible is the amount with the insured have to bear at loss and any excess above the loss will be compensated by the insurance company.
Comprehensive deductible is the application to only to comprehensive insurance which was what Chad had on his motor vehicle. Comprehensive insurance covers majority of peril that happens to the insured vehicle. Therefore, comprehensive deductible is the deductible Chad has to bear himself before the insurance company take other losses upon theirself..
If he had $500 deductible on his car and total repair cost $700, then he will bear the $500 while the insurance company is entitled to pay only $200 as per policy statement.
This is the answer in exact form
200 is wrong because I just need to answer this question to finish my profile fully!
