Scenario: I pay X amount of dollars per month for car insurance. I have all 4 tires stolen from my vehicle overnight. I submit a claim with my insurance company to repair any damages. I now pay a **hefty** X amount of dollars for the event that has occurred.
In: Other
it’s a cost splitting measure: if you assume more of the risk yourself, you can pay a lower premium. if you want the insurer to take more risk, you have to pay for that.
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