Sentences with phrase «insure substandard risks»
Basic Auto Policy: Although still used today to insure substandard risks, two - wheel motorized vehicles, and commercial autos, the Basic Auto Policy has been primarily replaced by the Personal Auto Policy, which combines both physical damage coverage and liability insurance for claims arising out of the ownership or use of a vehicle.
https://www.carinsurance.com/
A person who in this category will pay a higher premium than a person who is classified as a standard risk because it costs more for an insurance company to insure a substandard risk.
Not exact matches
An additional premium is charged for substandard risks due to the higher probability that the insured will have a shorter lifespan than those who are a standard risk.