A person buys a homeowner?s insurance policy with a $250 deductible, which means the person will

A) have to pay a quarterly premium of $250.

B) have to pay the first $250 which will be deducted from the claim settlement paid by the insurance company.

C) only receive payment from the insurance company of $250 for any single article damaged.

D) not be responsible for the first $250 of the claimed damages.

Answer: B

Insurance

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The voluntary relinquishment of a legal right is called
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