home owners policy comparison\ndeductible\npolicy 1 $1,500.00\npolicy 2 $2,000.00\nwhich statement below…

home owners policy comparison\ndeductible\npolicy 1 $1,500.00\npolicy 2 $2,000.00\nwhich statement below correctly compares the premium prices for these insurance policies?\npolicy 2 will have a higher premium because it has a lower deductible than policy 1.\npolicy 2 will have a higher premium because it has a higher deductible than policy 1.\npolicy 1 will have a lower premium because it has a lower deductible than policy 2.\npolicy 1 will have a higher premium because it has a lower deductible than policy 2.

home owners policy comparison\ndeductible\npolicy 1 $1,500.00\npolicy 2 $2,000.00\nwhich statement below correctly compares the premium prices for these insurance policies?\npolicy 2 will have a higher premium because it has a lower deductible than policy 1.\npolicy 2 will have a higher premium because it has a higher deductible than policy 1.\npolicy 1 will have a lower premium because it has a lower deductible than policy 2.\npolicy 1 will have a higher premium because it has a lower deductible than policy 2.

Answer

Brief Explanations:

In insurance, a lower - deductible policy typically has a higher premium. Policy 1 has a deductible of $1,500 and Policy 2 has a deductible of $2,000. Since Policy 1 has a lower deductible, it will have a higher premium.

Answer:

Policy 1 will have a higher premium because it has a lower deductible than Policy 2.