Definition: The term "insurance" refers to a financial protection service that offers coverage or insurance against loss or damage caused by events such as natural disasters, accidents, theft, or illness. This type of insurance typically includes deductibles, premium payments, and an annual fee for continued coverage. Some common types of insurance include: - Homeowners' Insurance: This policy protects the owner's property from loss due to fire, earthquake, vandalism, and other risks such as floods. - Car Insurance: This covers the costs of repairs or replacement of a car if it is damaged or stolen. - Life Insurance: This policy provides financial protection for the family members who depend on you if you die without them. - Health Insurance: Protects against medical expenses related to illness, injuries, and surgeries. - Uninsured Motorist (UM) Liability Insurance: For those driving under the influence of alcohol or drugs, this insurance will cover your damages even if no one else is at fault. - Disability Insurance: Provides financial support for individuals who are disabled due to a job loss or other health-related issues. Understanding "insurance 90 10" can be tricky because it varies by state and the type of coverage you choose. Generally, insurance plans have deductibles (a fixed amount that you must pay before your bill is paid) which means if something unexpected happens to your house or car, you need to cover the rest of your expenses. Some policies may also include a service fee, such as an annual surcharge for the policyholder's services. Understanding "insurance 90 10" can be confusing because it depends on many factors including the type of coverage, state laws, and personal preferences. It is best to contact your insurance provider directly or research different options in your area to find the best fit for you.
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