Auto Insurance
Where is Auto insurance required?
Nearly every state.
Does renter's insurance provide you with important liability protection?
Yes.
How does Homeowner's insurance protect someone
It insures the possessions and the property of the individual.
What does FEMA stand for?
Federal Emergency Management Agency
What doesn't basic car insurance cover?
Maintenance nor general wear and tear
What does renters insurance cover?
Renters insurance covers the items within the house but not the property itself.
What does property insurance cover?
Covers the contents within the house and the property itself.
What is a premium?
The regular payments that the insured person must make to the insurance company.
List 4 factors that affect auto insurance cost.
Age, Location, Vehicle usage, Your driving record, Speeding and traffic tickets, At-fault accidents, Not-at-fault and one-car accidents, Coverage selections, Vehicle type, Marital status, How you pay, Mileage, Credit
What is an open peril?
A policy that covers damage regardless of the cause.
What is a closed peril?
A policy that explicitly states what causes of damage are covered. Anything else not listed are not covered.
What is liability insurance?
Insurance for damages that the policy holder committed that affected someone else's property or health.
What is covered in an accident?
Bodily injury liability, Property damage liability, Medical payments or personal injury protection (PIP), and Uninsured motorist coverage
Name 3 things that affect premium pricing.
Geographical location, proximity to fire stations and hydrants, roof type
What is the purpose of FEMA?
helps the underinsured and uninsured recover their lives after a disaster
What is the purpose of FEMA?
Helps the underinsured and uninsured recover their lives after a disaster
Name the 3 other types of Auto insurance introduced.
Collision, Comprehensive, Glass coverage.
What’s usually covered by homeowner's/property insurance?
Fire, theft, personal liability, some weather damage
What’s usually not covered by homeowner's/property insurance?
Earthquake, flood, acts of war, and terrorism
What is the easiest way to document your possessions for insurance reasons?
Take a digital image on your phone.