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Neon Signs LLC wants to insure the equipment and supplies that it uses to create its products. To obtain insurance, Neon must have an insurable interest
What is insurance?
Insurance provides financial protection against loss. It is a type of risk management that is primarily used to mitigate the risk of a contingent or uncertain loss. An insurer, insurance company, insurance carrier, or underwriter is a company that provides insurance.
A deductible is the amount of money that you must pay toward an insured loss. When a natural disaster strikes your home or you are involved in a car accident, your deductible is subtracted, or "deducted," from the amount your insurance company pays toward a claim.
Hazard insurance protects a property owner from damage caused by fires, lightning, hailstorms, windstorms, snowstorms, or other natural events. Hazard coverage is typically a section of a homeowners insurance policy that protects the property.
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