Cheap insurance|Tulsa Auto Insurance
The objectives of this course is to teach you the principles of cheap Tulsa Auto Insurance so that you will understand and will be able to find the reasoning and the methods for establishing cheap Tulsa Auto Insurance to help the public manage risk and defined risk and be able to describe the various methods of managing every day risk that faces people in life.
You will learn what is the basic purpose of cheap Tulsa Auto Insurance and how the law of large numbers is used in the insurance industry and how to identify factors that will determine whether a risk is insurable, are whether it is a risk that is speculating of our pure and whether insurable interest exists actually exist. It will help you recognize and explain the difference between a peril and a hazard and will help you identify the different types of hazard that faces people if you become an insurance professional you will have a broad responsibility to your company and to the industry and to the public of which you will serve studying the principles of cheap Tulsa Auto Insurance will prepare you to begin these new responsibilities with confidence. You will learn the principles underlining the insurance and how the cheap Tulsa Auto Insurance industry operates. You will become familiar with all the major categories of property and casualty products and the kinds of situations that it is it’s designed to cover and the characteristics that make them unique of course please understand that no one training program was tell you everything that you will ever want to know our need to know about cheap Tulsa Auto Insurance. Property and casualty concepts will give you the knowledge and the need to take your first steps into career of the cheap car insurance industry and it will help prepare you for the challenges and the training opportunities that lies ahead cheap car insurance industry.
Helping you understand the nature of risk and exposure.
What is cheap car insurance and how does it work to understand this first you must understand something about risk and the exposure of risk and what risk means. You will find, that cheap car insurance risk means the same thing in insurance that it does in everyday living. Risk is the uncertainty are the chance of a loss on the possibility for example that your house might be broken into and burglarized our by be hit by car are you may be hit by car while crossing the street all of this represents an uncertainty of loss which loss of courses risk and notice that risk is not the loss itself but the uncertainty of loss these are some of the losses that are certain to occur eventually. But are not insurable risk such as your car runs out of gas, the rugs are your floor coverings where apt these are definitely losses but since losses are not risk because they represent a certainty into the uncertainty of loss another term sometimes used to meet about the same thing as risk is exposure, and exposure is a condition or situation that presents the possibility of a loss. For example a home that is built in a floodplain is exposed to the possibility of flood damage.
Managing risk
you spend your entire life coping with risk: such as going swimming, crossing the street, by and do house traveling by airplane. Risk sometimes result in small losses, this is a stub toe or loss pocketknife, that we except as a normal part of life but risk may also result in a serious financial loss, when the house burns down or if a person is injured in a car accident or an airplane crash. The consequence of such a serious financial loss can be quite severe and far-reaching. People have developed several different methods of managing the risk of serious financial loss in the cheap car insurance industry. One method is simply to avoid the risk, for example you avoid the risk of being in an automobile collision by never getting into a car. But this day and time that is not a practical way to avoid risk fortunately that isn’t the only method of managing a risk you can control risk to some extent for example training the workers in a safe use of the tools that they use to curtail the frequency of accidents on the job. Risk control techniques that curtail loss frequently come under the heading of loss prevention such as installing a sprinkler system in a factory won’t proof that a fire from occurring, but it will limit the severity any fire that does occur. What I Risk control techniques that limit loss severity come under the heading of risk reduction in the cheap car insurance industry. Another way you can simply retain the risk that is if any loss occurs just pay for it yourself sometimes people retain only a portion of a risk portion that remains after other means of managing the risk have been employed. If people are aware of a risk and decide to retain it, or a portion of it, then they do so intentionally. If people are not aware of the risk, they may retain it unintentionally, and may be surprised if a loss occurs. The final method of managing risk is to transfer it which is the most common utilized today this option, is not limited to, cheap car insurance, for example a hold harmless agreement may shift the liability from the owner are a contractor to a tenant or a subcontractor. A hold harmless agreement is a contractual arrangement where one party assumes the liability of a situation and relieves the other party of the responsibility. However, there are many risk and the best way to transfer them is through insurance. We’ll focus on this way of handling the possibility of a loss. You learned that one way of managing risk is the transfer it. That of course is what insurance does the purpose of cheap car insurance is not to avoid or eliminate the risk but is to transfer the risk to see how it works, this look at a hypothetical town of say Springfield which has 200 houses in it to make it easy as a challenge each house is worth $100,000 usually one else in Springfield burns to the ground each year. Now I have a homeowner has to pay for the house, the owner will suffer a full $100,000 loss. However, if that loss were divided among each of the Springfield homeowners it would only be $500 would you agree that $500 knowing that if your house burned down would be much easier to pay knowing that you would receive $100,000 in exchange. That is basically how insurance works as to the of each person paying each other the people pay the insurance company, that transfers the risk and the responsibility for paying for any losses that occurs to the company in exchange for a premium the insurance company accumulates these premiums to provide the funds to pay for the losses. That means that even though people don’t pay each other directly they will share in the cost of each other’s losses so that is the way insurance works in a simple manner everybody pay at a small premium bill if one house burns down the owner may collect the full amount of the loss.
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