The Insurance

*What should I also pay the premium for my insurance cover me in an
accident?*

 Hi everybody, I hope my past articles in the ABC of insurance have
found useful and enjoy it. The insurance issue is very important, so I
would like to explain more about these concepts, so that little by
little awareness of their advantages and benefits.

As reviewed earlier, the insurance contract must pay a premium, amount
of money in exchange for our insurance cover us to the risk of an
accident (whether accident, shock, illness, etc.). However, the premium
will not be the only amount we pay.

In addition to paying the premium, there are a couple of amounts we
cover, which will be paid only in case of an accident, they commonly
apply to car insurance and medical expenses, but depends on the
insurance you have hired.

First, we have a coinsurance , a percentage that you will pay in the
event of an accident. This feature is used to cover a small part of
total expenditure and depends on some variables.

On the other hand, there is a deductible , fixed amount payable maximum
in case of an accident. The higher the deductible, the cost of your
premium will be lower.

The difference between a deductible and coinsurance, the deductible is
that the amount payable will be fixed for each claim, while the
coinsurance may vary according to circumstances.

These amounts are charged by the insurance company to ensure that your
premiums are cheaper, so you will receive a lower cost and insurance
will cover these amounts only in case of an accident.

I hope this information is to your utility and the next time you need to
use your insurance you are prepared.