question archive Most automobile collision insurance policies have a deductible amount that the policyholder has to pay before the insurance company covers any collision loss
Most automobile collision insurance policies have a deductible amount that the policyholder has to pay before the insurance company covers any collision loss
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Most automobile collision insurance policies have a deductible amount that the policyholder has to pay before the insurance company covers any collision loss. For example, if you have a policy with a $500 deductible provision and you have an accident with $4,000 in damages, you have to pay the first $500, and then the insurance company will pay the remaining $3,500. Insurance companies use deductibles
A. as a sneaky way to extract more money from policyholders.
B. to reduce the problem of shirking.
C. to reduce the problem of adverse selection.
D. to reduce the problem of moral hazard.
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