The [tex]$500 likely represents Anthony's auto insurance deductible, which he must pay before his insurance company covers the claim.
The $[/tex]500 in Anthony's insurance policy most likely refers to his auto insurance deductible.
An auto insurance deductible is the amount the policyholder needs to pay out of pocket before the insurance company covers the remaining costs of a claim. It helps in reducing the number of small claims filed and can vary between [tex]$250 to $[/tex]1,000 depending on the policy.
This deductible applies to each claim, and a higher deductible often leads to lower premium costs as the policyholder shares a greater portion of the claim expenses.
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Answer:
The 500ℎ′,ℎℎℎℎℎ.</></><ℎ3>:</ℎ3><><>ℎ500likelyrepresentsAnthony′sautoinsurancedeductible,whichhemustpaybeforehisinsurancecompanycoverstheclaim.</p><br/><h3>Explanation:</h3><p><strong>The 500 in Anthony's insurance policy most likely refers to his auto insurance deductible.
An auto insurance deductible is the amount the policyholder needs to pay out of pocket before the insurance company covers the remaining costs of a claim. It helps in reducing the number of small claims filed and can vary between 250250to 1,000 depending on the policy.
This deductible applies to each claim, and a higher deductible often leads to lower premium costs as the policyholder shares a greater portion of the claim expenses.