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6 August, 05:03

Your parents' income will be used to determine what your insurance will cost.

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Answers (1)
  1. 6 August, 08:16
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    That statement is false.

    Explanation:

    Income generally influence their credit scores, but it wouldn't influence the cost of insurance.

    Insurance cost will be determined by the type of plan that your parents choose along the payment method. Insurance that provide large amount of coverage with higher percentage of claims tend to cost higher compared to insurance with the opposite characteristics.
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