Insurance vocab
This is the maximum payment a insurer will make for covered loss.
What is limit?
Coverage that pays for damage you cause to others of their property.
What is liability coverage?
A fixed amount you pay for a doctor visit or prescription.
What is co-payment?
Insurance that protects people who rent a home or apartment.
What is renters insurance?
This term mean ps the chance of loss or damage.
What is risk?
The term for the regular amount of money paid by a policyholder to the insurance company for coverage.
What is premium?
A history of accidents ,traffic violations, speeding tickets, and past claim.
What is your driving history?
The percentage of medical costs you pay after meeting your deductible.
What is co-insurance?
The value of an item after depreciation.
What is actual cash value?
A request made to an insurance company for payment after loss.
What is a claim?
This is an agreement that protects people from financial loss.
What is insurance?
This coverage pays for damage to your own vehicle resulting from a collision with another car or object.
What is PIP?
The group of doctors and hospitals that accept your insurance plan.
What is a health plan network?
The cost to replace an item with a new one.
What is replacement value?
This person sells insurance policies to customers.
What is a broker?
The amount of money you must pay before insurance starts to cover costs.
What is a deductible?
Name one factor that determines auto insurance rates.
What is age/driving record/location/credit score/type of car?
The most money you have to pay in a year for covered services.
What is the out of pocket maximum?
Renters insurance usually covers personal property, liability and this
What is loss of use?
This health plan requieres you to choose a primary care doctor.
What is an HMO?
A professional who uses math and statistics to calculate risk.
What is an actuary?
Florida law requieres this minimum auto insurance coverage.
What is 10.000 PIP?
The program that provides health insurance for low income individuals.
What is Medicaid?
True or False. Renters insurance covers the building itself.
What is false?
This law helped make health insurance more accessible in the U.S.
What is ACA?