due to the recent economic downturn, a distrust in banks, and concerns about government confiscation of assets, michelle keeps all of her money under her mattress. over time, she has accumulated $50,000 in cash. unfortunately, her house burned down last week, destroying all of the cash under her mattress. if michelle has a typical ho3 policy, how much will the insurance company pay for the lost cash? question 11 options: $0.00 $200.00 $500.00 $5,000.00

An agreement to guarantee another party compensation in the event of a specific loss, damage, or injury is known as insurance. It is a type of risk management that is mostly applied to protect against the risk of a potential or unforeseen loss. The terms "insurer," "insurance company," "insurance carrier," and "underwriter" all refer to organizations that offer insurance. A policyholder is someone or something that purchases insurance, and an insured is someone or something that is protected by the policy. As part of the insurance transaction, the policyholder agrees to pay the insurer (a premium) in exchange for the insurer's promise to cover a predictable, guaranteed loss that is only moderately large.

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