Insurance vocab
The term for the regular amount of money paid by a policyholder to the insurance company for coverage.
What is Premium?
This coverage pays for damage to your own vehicle resulting from a collision with another car or object.
What is a PIP?
Government insurance for people 65+ or with certain disabilities
What Is medicar?
Tv Damaged in a fire
What is Replacement value?
The most you will pay in a year
What is out of pocket maximum?
this the maximum payment an insurer will make for a covered loss
What is a limit?
A history of accidents, traffic violation, speeding tickets, and past claim.
What is your driving history?
Mix of HMO and PPO
What is POS?
To protect your belongings if you rent an apartment
What is renters insuranc?
Cheaper, must use in network doctors need referral
What is HMO?
This is the amount of money you must pay out of pocket for covered services before your insurance plan begins to pay
What is the deductible?
a Score used by insurers in most states to predict the likelihood of a driver filling a claim, often leading to lower premiums for those with better scores.
What is a vehicle type?
More expensiv, more freedom, no referrals needed
PPO
Bicycle sotlen
what is Actual Cash Value
A fixed dollar amount you pay for a service the rest is paid by insurance
What is co payment?
This is a contract where An individual pays a company to protect them financially against potential major losses or risks.
What is an insuranc?
This coverage reimburses for loss or damage to your car not caused by a collision, such as theft, vandalis, fire, natural disaster, or contract with animals.
What is collision coverage?
The amount you pay each your before insurance begins to cover services
What is deductible?
Couch damage by water
What is replacement Value?
A restriction on the size or amount or something posible
What is limit?
This is a formal request made to an insurance company for payment after a covered event occurs
What is a claim?
This coverage pays for injuries or death to other people if you are at fault in an accident, and covers legal defense costs if you are sued
What is bodily injury liability?
A percentage you pay after meeting your deductible
what is co-insurance?
Laptop stolen
What is actual cash value?
Expose someone or something value
What is risk?