Insurance Basics
This is the regular payment you make to keep your insurance active.
What is a premium?
This type of auto insurance pays for damage you cause to another person or their property.
What is liability insurance?
This is the fixed amount you may pay for a doctor visit or prescription.
What is a copay?
This type of insurance protects a tenant’s belongings in an apartment or rental home.
What is renters insurance?
Comparing prices and coverage from multiple companies is called this.
What is comparison shopping?
This is the amount you pay out of pocket before insurance starts helping pay.
What is a deductible?
This insurance helps pay for damage to your own vehicle after an accident.
What is collision coverage?
This government health insurance program mainly serves people age 65 and older.
What is Medicare?
This event is usually covered by standard home-owners insurance: fire, flood, or normal wear and tear.
What is fire?
This number helps insurance companies predict how risky it may be to insure someone financially.
What is your credit score?
This document explains what your insurance covers and excludes.
What is an insurance policy/ contract?
This factor usually causes insurance rates for teens to be higher than for older adults.
What is lack of driving experience?
It is illegal to opt out of health insurance. (T/F)
What is False?
This part of homeowners insurance helps if a guest is injured on your property.
What is liability insurance?
Bundling auto and home insurance together may earn you this.
What is a discount?
It details what damages or events (e.g., theft, accidents, illness) the policy covers.
What is coverage amount?
This driving habit can lower your insurance premium over time.
What is maintaining a safe driving record?
This is the amount you must pay out of pocket for medical services before the insurance company will pay.
What is the deductible?
Many standard homeowners' insurance policies do NOT automatically cover this natural disaster.
What is flooding?
Filing many small claims may cause this insurance consequence.
What is a higher monthly premium?
This term describes something specifically not covered by your insurance plan.
What is an exclusion?
If someone drives without insurance and hits you, this type of coverage may help pay your costs.
What is uninsured motorist coverage?
What is a higher deductible amount?
Pays for increased living costs (hotel, meals, rent) if you must move out while your home is being repaired from a covered loss.
What is loss of use coverage?
This is a false statement made to receive insurance money illegally.
What is insurance fraud?