insurance basics
Health
Homeowner's
Car/Auto
Renter's
100

a chance of loss from an event that cannot be entirely controlled

what is risk?

100

a percentage of health care costs that you have to pay for covered services, insurance will pay the rest

what is co-insurance?

100

this coverage protects you from visitors on your property that try to sue you for damage to their health or property

Liability coverage

100

car insurance is required in all but these two states

what are New Hampshire and Virginia?

100

this is how much renter's insurance typically costs per month

what is $10-15?

200

a contract between the insurance and the insured to provide that states the exact terms of coverage.

what is a policy?

200

once you hit this limit, you won't have to pay for any covered healthcare for the rest of the year

what is an out-of-pocket maximum?

200

unlike car insurance, homeowners insurance not mandatory. However, this institution may require it.

what is a bank?

200

a significant impact on the price of your car insurance is your age. It's more expensive when you are young, but rates drop once you reach this age

what is 25?

200

this kind of coverage would pay for the value of your items after their value has depreciated

what is actual cost value?

300

the person who owns the insurance policy is called this

what is a policy holder?

300

a fixed amount you have to pay for a specific service or prescription medication

what is a copayment?

300

these lovable friends are considered part of the family and homeowners insurance agrees, which is why they are included in your liability coverage.

what are pets?

300

In most states this is the only required coverage for car insurance

what is liability coverage/insurance?

300

this kind of coverage provides enough money to buy new items for all your lost or damaged property.

what is replacement cost value?

400

the risks covered and the amount of money paid for losses under an insurance policy

what is coverage?

400

These kinds of health care are not typically included in standard coverage and have to be purchased as supplemental coverage

dental and vision

400

standard homeowners insurance covers damage from most natural disasters EXCEPT these two

what are floods and earthquakes?

400

this kind of coverage includes all kinds of damages to your car from events beyond your control

What is comprehensive coverage?

400

this kind of coverage pays for your stay at another residence(like a hotel) while your rental home is under repair.

what is loss of use of residence coverage?

500
this is how much money you have to pay out of pocket each year before your insurance pays anything

what is a deductible?

500

these government programs provide healthcare to low income, elderly, and qualified disabled individuals

what are Medicaid and medicare?

500

Homeowners insurance usually covers these FOUR things.

what are 1. interior damage, 2. exterior damage, 3. loss of personal belongings, and 4. injury that occurs on the property?

500

this kind of extra coverage helps pay off your car loan if you total your car.

What is gap coverage?

500

this coverage covers the cost of any damage to your rental property, even if you are at fault

personal liability coverage

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