So how was everyone's spring break? Mine was pretty boring, just like a long weekend. The weekend of the week was pretty good though. Anyways, today we started learning about vehicle insurance. Right at this very moment there are 9 of us sitting here. We started new mental math sheets.
Vocab from today's lesson:
-Premium: the amount you pay for insurance for a specific amount of time.
-Rate Class VS. Rate Group
(where you live) (type of vehicle)
-TPL: third party liability: insurance provided to a third-party in the event that you cause personal injury or property damage.
-Deductible: money paid by the insured(you) to the company to activate an insurance policy; designed to PREVENT frivolous/frandulent claims.
-"Claims-Free": never made an insurance claim on your policy; you're considered a "good risk".
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