Select all of the following statements that accurately describe deductibles.

A deductible requires the insured to bear some portion of loss before the insurer is obligated to make a

payment.

The low frequency and high severity nature of most direct property losses makes deductibles particularly

important.

Deductibles help maintain reasonable premiums because they eliminate administrative expenses of the low$-$

value, common losses.

A deductible requires the insured to pay a percentage of any covered loss.

Deductibles make insurance more expensive