Answer :
Final answer:
The cost that is always associated with buying insurance is the premium. This is the amount of money paid to the insurance company on a regular basis to maintain coverage.
Explanation:
When buying insurance, there are several costs to consider. One of the primary costs is the premium. The premium is the amount of money that the policyholder pays to the insurance company on a regular basis to maintain coverage. It can be paid monthly, quarterly, or annually, depending on the insurance policy.
Another cost to consider is the deductible.
The deductible is the amount of money that the policyholder must pay out of pocket before the insurance company starts covering the costs. For example, if the deductible is $500 and the policyholder incurs a covered loss of $1,000, they would need to pay the first $500, and the insurance company would cover the remaining $500.
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