INFOGRAPHIC: Insurance Premiums, Deductibles + Limits
In addition to having a fixed premium, most insurance plans also have a deductible and a coverage limit. Use this infographic to answer the questions.
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Make an assumption about the relationship between coverage limit and premium. Explain your thinking.
Make an assumption about the relationship between coverage limit and premium. Explain your thinking.
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After the accident, Jerry starts thinking, “Wow, that $1500 deductible is a lot to pay for all at once! Who knows when I’ll get in another accident, but I sure wish my deductible were lower!” He asks his auto insurance agent, who shows him this chart:
What is Jerry’s auto insurance agent trying to tell him? What will Jerry need to do in order to pay a lower deductible?
After the accident, Jerry starts thinking, “Wow, that $1500 deductible is a lot to pay for all at once! Who knows when I’ll get in another accident, but I sure wish my deductible were lower!” He asks his auto insurance agent, who shows him this chart:
What is Jerry’s auto insurance agent trying to tell him? What will Jerry need to do in order to pay a lower deductible?
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10
