Insurance Basics
This is a contract that offers financial compensation for loss or damage to an uncontrollable event.
What is insurance?
This insurance pays for damage you caused in an accident.
What is Liability Coverage?
This is a government health insurance program for people with low income or limited resources.
What is Medicaid?
These are the two sections of renter’s insurance.
What is property and liability coverage?
This insurance offers protection to your residence and its items.
What is renter’s insurance?
This is the sum of money payed every month for insurance.
What is the premium?
This insurance is for damages to your car, even if you’re at fault.
What is Collision Coverage?
This is the fixed dollar amount for a specific medical service.
What is a co payment?
This coverage options pays for the full cost of a damaged/stolen item, without deducting for depreciation.
What is replacement value?
This is auto insurance used to cover your injuries.
What is PIP/Personal Injury Protection?
This is a formal request to an insurance company to cover a loss.
What is a claim?
Larry had his car hit by a tree. He requires insurance to cover this damage.
What is Comprehensive Coverage?
What is POS/ Point of Service?
This coverage options pays for the full cost of a damaged/stolen item, minus depreciation value.
What is actual cash value?
This is the max amount an insurance company will pay for damages.
What is a limit?
John’s job helps determine the risk for insurance companies.
What is an actuary?
This is a factor affecting auto insurance, relating to you as a person.
What is age, gender, and marriage status?
This is a health insurance reform law, aiming to expand health coverage.
What is ACA/Affordable Care Act?
Sarah’s house got robbed during her trip to Hawaii. She gets covered by a specific type of renter’s insurance.
What is liability coverage?
This is the minimum for PIP coverage in Florida.
What is 10000 dollars?
George’s job is one that helps decide if somebody is risky or not for insurance.
What is an underwriter?
Mary got into a car accident that’s not her fault, but the other person doesn’t have auto insurance. Despite that, she needs to be covered somehow.
What is Uninsured/Underinsured Motorist Coverage?
What is PPO/Preferred Provider Organization?
These damages are covered by renter’s policy.
What is fire, flood, theft, and lightning damage?
This is the minimum for liability coverage in Florida.
What is 10000 dollars?