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Barry pays $200 per month for his insurance coverage, whether he uses it or not. This payment is called a ______.

Sagot :

Answer:

Premium

Explanation:

Anthougoidn

The amount of $200 that Barry pays per month for his insurance coverage is called an insurance premium.

What is an insurance premium?

An insurance premium is a periodic payment made by the insured to the insurer for insurance coverage.  The insurer or insurance company uses it to pool resources together so that in the event of a financial loss, suffered by a policyholder, the insured will be adequately compensated.

Thus, the amount that Barry pays per month for his insurance policy is called an insurance premium.

Learn more about insurance premiums at https://brainly.com/question/25280754 and https://brainly.com/question/1191977

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