Insurance Basics
This term refers to the amount you pay every month to keep an insurance policy active.
This type of health plan requires you to see doctors inside the network except in emergencies.
What is HMO
The auto coverage pays for damage you cause to others in an accident.
What is liability coverage
Renters insurance mainly covers this type of loss to your belongings
What is personal property
The person who receives money from a life insurance policy after someone dies
What is beneficiary
This is the amount you pay out of pocket before insurance begins to cover costs.
What is deductible.
The fixed amount you pay for each doctor visit or prescription.
What is copay.
This pays to repair your own car after hitting another car or object.
This part of the policy protects you if someone gets hurt.
What is liability coverage
This type of insurance protects businesses from lawsuits over mistakes or negligence
What is liability insurance
This term described the max amount your insurance will pay for a covered loss.
What is limit
This is the percentage of the bill you pay after meeting your deductible.
What is co-insurance
This coverage protects you from theft, vandalism, or disasters,
What is comprehensive coverage
Coverage that pays you for the hotel costs if your apartment becomes unavailable
What is loss of use
A type of insurance that replaces part of your income if you can’t work due to injury or illness
What is disability insurance
This part of the insurance contract describes exactly what is covered.
What is coverage
The yearly cap of how much you pay out of your pocket for covered care.
What is out of pocket maximum
Insurance that helps when the driver who hits you has no insurance
What is uninsured motorist coverage
This determines how much you get paid, the value of items
A request you make to the insurance company to pay for a loss or damage
What is claim
This process happens happens when you inform your insurance company about a loss and request payment.
What is claim.
Until when a person can stay under their parents insurance
What is until a person is 26
When a person is injured in a crash they caused, this coverage helps pay her hospital bile-even though they were at fault
What is PIP (Personal Injury Protection)
This valuation method pays to replace your damaged or stolen belongings with new items of similar quality without deducting
What is replacement value
A person who helps you find and buy the right insurance
What is broker