Insurance Basics
This provides protection against unexpected losses like accidents or disasters
What is insurance?
After a hailstorm dents Jacob’s car, his insurance pays for repairs even though no other driver was involved.
What is comprehensive coverage?
This is the amount you pay every time you visit a doctor or specialist.
What is a copay?
This part of renters insurance protects your belongings if they are stolen or damaged.
What is personal property coverage?
A Florida driver causes a minor crash and their insurance helps pay their own medical bills, no matter who is at fault.
What is Personal Injury Protection (PIP)?
This is the amount of money you pay each month or year to keep your insurance policy active
What is a premium?
Two drivers buy the same car, but one pays more because they have multiple speeding tickets.
What is a driving record?
The program that assists lower income individuals who seek for medical help.
What is Medicaid?
If someone slips in your apartment and sues you, this protects you.
What is renters liability coverage?
Carlos must show proof he carries $10,000 in medical coverage and $10,000 in property damage liability.
What are Florida’s minimum PIP and PDL coverages?
This is the amount you must pay out of pocket before your insurance starts covering costs.
What is a deductible?
Maria’s insurance premium drops after she turns 25 and keeps a clean record.
What is age?
This program for older individuals who struggle with disabilities.
What is Medicare?
If your apartment becomes unlivable after a fire and you need a hotel, this part of renters insurance covers those costs
What is the loss of use?
In Florida, you must carry at least this amount for property-damage liability to meet legal minimums.
What is $10,000?
This describes the maximum amount an insurance company will pay for a covered event.
What is a limit?
While backing out of a driveway in Florida, a driver hits a postal van and damages it. This part of car insurance pays for the other vehicle.
What is liability coverage?
Set of federal laws that influenced the healthcare system.
What is ACA ( Affordable Care Act)?
This covers damage you accidentally cause to someone else’s property.
What is personal liability?
Insurance for damage caused by things like fire, theft, or vandalism when no collision happens.
What is comprehensive coverage?
The person that assists insurance companies in calculating risks.
What is an actuary?
A 19-year-old with a brand-new sports car in a high-crime urban area pays more because of this factor.
What is location and type of vehicle?
This savings account lets you use pre-tax money for medical expenses.
What is an HSA (Health Savings Account)?
Many landlords require tenants to carry this type of insurance before moving in
What is renters insurance?
A person who sells insurance policies and helps customers choose coverage.
What is a Broker?