Covered events or risks, Coverage limits and Deductibles in Insurances

This Skill Bit defines key insurance terms, starting with “covered events” or “risks,” emphasizing the importance of reviewing your policy to understand what is and isn’t covered. It also explains “coverage limits,” highlighting their role in determining payout amounts and the need to ensure they provide adequate financial protection. Additionally, it covers the concept of a “deductible,” explaining how it functions as an out-of-pocket expense before coverage begins and the factors that influence deductible amounts.

Duration approx. 5 Min.

Tier: advanced

A part of A Professional’s Guide to Business Insurance Coverage course.