Insurance that protects you against the difference between the value of the A physical asset pledged by a borrower as security to a lender for a loan. If the borrower defaults on the loan, the lender can take possession of the collateral. More for a loan or lease and your outstanding balance at any point in time during the loan or lease. It is most commonly purchased for vehicles, but is available for other items of value you lease or for which you take out a loan.
I am also a retired property-casualty A professional who assesses and manages the risks of financial investments, insurance policies and other potentially risky ventures. Source: www.investopedia.com/terms/a/actuary.asp More (someone who works with the math and statistics related to insurance). I spent a significant portion of my career building statistical models of all of the financial risks of an insurance company and interpreting their findings to help senior management make better financial decisions. I retired in my late 50’s, which one of my daughter’s friends thought clearly qualified me to write this blog. Read more about Susie Q