Answered

Discover answers to your most pressing questions at Westonci.ca, the ultimate Q&A platform that connects you with expert solutions. Get detailed and precise answers to your questions from a dedicated community of experts on our Q&A platform. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

Barry pays $200 per month for his insurance coverage, whether he uses it or not. This payment is called a ______.

Sagot :

Answer:

Premium

Explanation:

anthougo

The amount of $200 that Barry pays per month for his insurance coverage is called an insurance premium.

What is an insurance premium?

An insurance premium is a periodic payment made by the insured to the insurer for insurance coverage.  The insurer or insurance company uses it to pool resources together so that in the event of a financial loss, suffered by a policyholder, the insured will be adequately compensated.

Thus, the amount that Barry pays per month for his insurance policy is called an insurance premium.

Learn more about insurance premiums at https://brainly.com/question/25280754 and https://brainly.com/question/1191977

Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.