General
Property risks, personal risks, and liability risks
What are Three insurable risks?
T or F -- Good grades can reduce your car insurance premium.
What is True
Insures property against risks such as fire and wind damage
What is Dwelling coverage?
Covers your car in case of an accident.
What is Collision?
Auto & home
What are 2 types of insurance most people have?
Age, wear and tear (mileage), the fact that used items are less valuable than new ones.
What are three factors that contribute to the cash value of a vehicle.
Coverage which provides protection against losses caused by you
What is Liability coverage?
Covers you in case a tornado drops a tree on your car.
What is Comprehensive?
A set amount that the insured person must pay before the insurer pays benefits
What is a deductible?
Easiest way to lower the cost of collision insurance.
What is Increase the deductible
Covers the detached garage
What is Other structures?
Covers the passengers of the other vehicle.
What is Liability -- Bodily Injury?
These are risks that are NOT covered by the insurance policy.
What is an exclusion?
Speeding tickets, number of accidents, age, gender, location and your credit score
What are things used to determine your auto insurance premium?
When the item you are insuring costs more than the limits on the policy. You can purchase additional insurance called a ______.
What is Rider or Endorsement?
You hit a patch of ice and lose control and hit a telephone pole. What coverage will pay for the damage to the pole?
What is Liability -- Property?
A contract between you and your insurance complany specifying exactly what is covered
What is a policy?
Easiest way to lower the cost of liability insurance.
What is lower the limits
The mailman is bitten by your dog. What coverage will pay for their injuries.
What is Liability?
A car runs a red light. The driver does not have insurance. What coverage will pay for the damages to your car?
What is Uninsured motorist?