Types of Insurance
What type of insurance typically covers property loss, such as damage to a home from a fire or theft?
Property Insurance
What do we call the payment made by the policyholder to the insurance company in exchange for coverage?
Premium
In auto insurance, what is the minimum coverage required by law that pays for damages to another driver's vehicle?
Third Party Insurance
What is the first step a policyholder should take when filing an insurance claim?
Contact the Insurance Company
What benefit do policyholders receive from insurance coverage that helps protect their financial well-being?
Financial Security
This type of insurance provides financial protection against the costs of medical treatment and related services.
Health Insurance
This term refers to the maximum amount an insurance company will pay for a covered loss.
Policy Limit
This type of insurance policy covers losses related to a specific event or series of events.
Special Event Insurance
This term refers to the person who assesses the extent of damage or loss for an insurance claim.
Claims Adjuster
This benefit provides protection against unforeseen financial burdens resulting from covered events.
Financial Protection
Which type of insurance provides coverage for legal expenses in the event of a lawsuit?
Liability Insurance
What is the name for the document detailing the terms and conditions of an insurance policy?
Policy Document or Contract
What type of insurance policy provides coverage for damage to someone else's property caused by the insured?
Third Party Insurance
What do we call the report documenting the details of a loss or damage covered by insurance?
Claim Form
What is the advantage of having insurance coverage that helps minimize the financial impact of unexpected events?
Risk Management
What type of insurance offers coverage for injuries or damages caused to others by you or your property?
Third Party Liability Insurance
What is the term for the specific risks or property that are covered by an insurance policy?
Coverage
Name the insurance policy that covers repairs to your home caused by unexpected events like storms.
Property Insurance
Name the process of verifying the details of a claim before payout by the insurance company.
Claims Investigation
What benefit do insurance policyholders gain from the peace of mind that comes with financial protection?
Peace of mind
Name the type of insurance that offers protection for events that may occur during international travel, such as medical emergencies or trip cancellations.
Travel Insurance
Name the practice of an insurance company compensating an individual or business for a covered loss.
Claim Settlement
This type of policy protects against financial losses resulting from data breaches or cyberattacks.
Cyber Insurance
This term describes the insurance company's refusal to provide coverage for a specific claim.
Claims Denial
Name the benefit of insurance that enables individuals to recover from losses with financial support.
Recovery Assistance