Insurance Basics
This kind of contract is where you pay a regular fee to an insurance company.
What is Insurance
This insurance pays for your medical bills and sometimes lost wages after a crash, even if you caused the accident.
What is PIP (Personal Injury Protection) ?
This is the amount of money you pay an insurance company to keep your coverage active.
What is premium?
This type of insurance pays for the other driver’s injuries and damages when you are at fault in an accident.
What is liability insurance?
This person acts as a middleman, helping you compare different insurance companies, so you can choose the best policy.
What is a broker?
This is a profesional who uses mathematics and statistics to access and manage risk for insurance and financial companies.
What is an actuary?
In insurance, this is the company or person who takes on the financial risk and is responsible for paying claims.
What is an underwriter.