FFScout (@FFScout)

What is insurance?

What is insurance? Insurance is a contract between an individual (the policyholder) and an insurance company. This contract provides that the insurance company will cover some portion of a policyholder’s loss as long as the policyholder meets certain conditions stipulated in the insurance contract. The policyholder pays a premium to obtain insurance coverage. If the policyholder experiences a loss covered by insurance, such as a car accident or a house fire, the policyholder files a claim for reimbursement with the insurance company. The policyholder will pay a deductible to cover part of the loss, and the insurance company will pay the rest.

When you buy an insurance policy, you’re pooling your loss risk with the loss risk of everyone else who has purchased insurance from the same company. If you get your homeowners insurance from State Farm, which sells far more homeowners insurance policies than any of its competitors, you’re joining forces with millions of other homeowners to collectively protect each other against loss. Each homeowner pays annual premiums; State Farm collected more than $39.593 billion in earned premiums in 2016, according to its annual report.

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RT @FFScout_Joe: 📺SCOUTCAST GWK 27 - 8pm tonight! @FFScout_Joe is joined by @FFCommunity_ and @ffscout_az to discuss: ▪️Son replacements…
🆕 VIDEO and PODCAST - BEST CAPTAIN #gw27 @FFScout_Joe and @DavidMunday815 consider: ◾️Ings v #AVFC ◾️Liverpoo… https://t.co/WHOZf0GoJi
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RT @DavidMunday815: 📝 My immediate reaction to the Son injury including a name-check for the potential replacements. Stay tuned to @ffscout
🚑 | What Son's long-term injury means for #FPL and who the best replacements are at this stage 📝 READ HERE ⬇️… https://t.co/5xJsc96yse
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📺LIVE @ffscout STREAM 👑 BEST CAPTAIN #gw27 - ⏰12:30pm today! @FFScout_Joe and @DavidMunday815 consider the bes… https://t.co/9hbCXDm9Ku
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RT @DavidMunday815: My thoughts as Eric Bailly returns to firm up an already improving Man United defence at Chelsea https://t.co/IOlkrMM7
It's now 4⃣ clean sheets in 7⃣ for Man United and Eric Bailly is back... Is it time to consider their defence for t… https://t.co/96XMe9KXpF
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