PLAVlX (@PLAVlX)

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.


RT @ThtAmbitiousGuy: Is it weird that I never thought this would happen? Lol
RT @OMGItsBirdman: Joshua gonna fight Fury or keep hiding?
RT @OMGItsBirdman: Joshua gonna fight Fury or keep hiding?
RT @mcuban: So they call a goaltend. They literally blew the whistle that it was a goaltend. There was a putback after the whistle. After…
RT @mcuban: So they call a goaltend.  They literally blew the whistle that it was a goaltend. There was a putback after the whistle.  After…
RT @TheNerdyEsq: Remember you lot that said “tHaTs HeR nAtUrAl CoLoR bC sHeS aRmEnIaN” 🥴 Pepperidge farm remembers...
RT @TheNerdyEsq: Remember you lot that said “tHaTs HeR nAtUrAl CoLoR bC sHeS aRmEnIaN” 🥴

Pepperidge farm remembers...
@hitchariide Reminds me of Luka Doncic and Trae Young
@hitchariide Reminds me of Luka Doncic and Trae Young
RT @BowlBol: luka doncic, trae young, steph curry, and damian lillard are the only people in the league that can make this shot here...wil…
RT @BowlBol: luka doncic, trae young, steph curry, and damian lillard  are the only people in the league that can make this shot here...wil…
RT @DanteMagic: This is what people don’t see....@luka7doncic Signing every autograph and taking every picture after the game. This kid get…
RT @DanteMagic: This is what people don’t see....@luka7doncic Signing every autograph and taking every picture after the game. This kid get…
RT @All_Things_Mavs: Tim Hardaway Jr. has been an elite shooter this season. He’s 1️⃣ of just 4️⃣ players shooting over 40% from three with…
RT @TheNBACentral: Most games with 20+ PTS - 5+ AST & 5+ REB this season: Luka Doncic - 37 LeBron James - 32 James Harden - 31 Russell We…

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