Insurance Basics
The definition of insurance.
What is a policy offered by some companies to protect you from expensive life events?
The definition of life insurance.
What is covers funeral costs and replacement income for family members?
The type of car insurance that covers damage to your car that is not from an accident (i.e. tree branch falling on your car).
What is comprehensive insurance?
The factors that determine how high or low someone's car insurance premium will be.
What is driving record, age, location, and vehicle?
The option you generally do for insurance.
What is generally, you choose a policy and pay the company a certain amount to protect you.
The reason why insurance companies provide insurance.
What is they earn a profit by spending a small amount of what they earn from their clients?
The definition of disability insurance.
What is covers you if you are chronically ill, injured, or disabled and can’t go to work?
The type of car insurance that covers the repairs to your car if you get into an accident.
What is collision insurance?
The reason why your driving record matters for a car insurance premium.
What is a driver is more likely to get in more accidents if they have a bad driving record, which costs the insurance company more money to fix?
The reason why insurance premiums have varying rates.
What is the more accidents there are, the less profit they get so they invest in safer individuals?
Some of the ways that someone can manage their risk.
What is by using helmets, using safety equipment, wearing a seat belt, and using security systems at home.
The definition of premium.
What is the payment given to the insurance company regularly in exchange for financial protection?
The type of car insurance that covers accidents you cause and pays for those who get hurt.
What is liability insurance?
The reason why your age matters for a car insurance premium.
What is younger drivers and older drivers are more likely to get in accidents or drive recklessly/irresponsibly?
The insurance type that you choose if your car gets damaged due to natural causes.
What is comprehensive insurance?
The reason why someone should get insurance.
What is it is better to prepare for accidents now by paying a small amount of money than a large amount of money in the future?
The definition of deductible.
What is the amount that the insured must pay before the insurance company will pay?
The type of car insurance that covers you if you get hit by someone without insurance.
What is uninsured coverage?
The reason why your location matters for a car insurance premium.
What is cities are busier, so there are more accidents to occur in comparison to less populated areas?
The insurance one should get if they want to protect the home that they own.
What is homeowner's insurance?
The names of the four types of insurance.
What is car insurance, health insurance, disability insurance, and life insurance?
The items that health insurance may cover you for.
What is an ambulance, emergency room visit, urgent care visit, and a x-ray?
The factors that lead to the insurance cost.
What is the premium, the deductible, co-payments, and coinsurance, and potentially an “out-of-pocket” maximum amount?
The reason why your vehicle matters for a car insurance premium.
What is certain cars have more safety features and higher crash test ratings, which lessens accidents.
The insurance one should get if they wish to protect the items within their rented home.
What is renter's insurance?