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What steps are taken by an insurance company to set up its retention limit?
Wiki User
∙ 9y ago
A retention limit is the same as a deductible. Deductibles or retention limits are part of the policy. Insurance companies don't just make up deductibles. Usually clients choose higher deductibles in exchange for lower premiums. The same goes for retention limits, in that the higher retention limit a client is willing to accept on their own the lower the premium charged to that client by the insurance company.
Wiki User
∙ 9y ago
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