Insurance is an agreement between the insurer and the insurance company. The agreement is such that the insurer will be paying a premium every year to the insurance company and the insurance company in return will be accepting to pay for the loss due to the damage that can possibly occur in the insured object. The insured object can be a person where one’s life is insured and it can go up to the extent of insuring one’s car or one’s house. The insured object will be covered under the insurance policy. The question asked here is what the normal price for liability insurance is. The liability insurance is the insurance where the insurance is made for the amount of risk you have taken with that liability. The amount of the liability insurance is not fixed, it varies according to the price of the liability and also the type of the liability.
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