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3 years ago

If you cause a car accident, which type of insurance will require you to pay the least out of pocket?

Business

2 answers:

Alex3 years ago

8 0

Low deductible plan because there will be low amount of money taken from you. I am pretty sure.

const2013 [10]3 years ago

3 0

The low-deductible plan will result in the least out-of-pocket expenses.

Further Explanation:

Out-of-pocket expenses:

It is the maximum amount of expenses that the insurance policyholder has to pay for medical expenses. It includes the deductible, coinsurance, and co-payment. Premium paid on the insurance policy is not considered as out-of-pocket expenses.

Low-deductible plan:

The low-deductible plan is the insurance plan where the insured person has to spend a low amount of out-of-pocket expenses. The contribution from the side of the insurance policyholder is minimum in the low-deductible plan because most of the expenses are carried out by the insurance company.

The insured person has to pay the least amount of deductible, coinsurance, and co-payment in case of low-deductible plan. Most of the medical expenses are met by the insurance company.

Thus, the low-deductible plan will result in the least out-of-pocket expenses.

Learn more:

1. Learn more about the revenue from property taxes

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2. Learn more about the profit from the sales of the property

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3. Learn more about the components of the rental housing agreement

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Answer details:

Grade: Senior School

Subject: Business Studies

Chapter: Insurance

Keywords: If, you, cause, a, car, accident, which, type, of, insurance, will, require, you, to, pay, the, least, out, of, pocket expenses, type of insurance, low-deductible plan, insurance.

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