Answer :
Final answer:
The always present cost when purchasing insurance are the insurance premiums. Other consistent costs can also include deductibles and coinsurance or copayments, as well as the indirect administrative costs an insurance company incurs, which can result in increased premiums.
Explanation:
An always present cost when purchasing insurance is the insurance premium. This is the amount that you pay to an insurance company for coverage. It's a cost that varies depending on factors such as your age, driving experience and history, and the type of vehicle you're insuring in case of car insurance. These premiums can be paid monthly, quarterly, or twice a year.
Another consistent cost associated with insurance, particularly health insurance, is the deductible. The deductible is a fixed amount that you must pay out of pocket before the insurance begins to cover any costs. Further costs may include coinsurance or copayments, which are cost-sharing agreements where you may have to pay a percentage or fixed price per visit on top of your premium.
The final cost to consider is the administrative costs that the insurance companies bear including hiring workers, administering accounts, and processing insurance claims. This cost indirectly charged to the insured in from of increased premiums
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