Insurance Basics
A contract that provides protection against financial losses from certain risks.
What is insurance?
In Germany, this type of insurance is mandatory for cars.
What is liability car insurance?
Insurance premiums are typically paid monthly, quarterly, semi-annually, or annually.
What are common payment schedules for insurances?
This type of insurance covers medical emergencies while you're in a foreign country.
What is travel insurance?
You must do this after an incident to receive an insurance payout.
What is report the claim to the insurance company?
This person is responsible for paying the premiums of an insurance policy.
Who is the policyholder?
This insurance protects you from damage to your house or building.
What is home insurance (building insurance)?
These factors affect how much you pay for car insurance.
What are car type, driving behavior, and no-claims bonus?
This car insurance only covers damage to other vehicles and not your own.
What is liability car insurance?
This is the amount the insurance company pays out after a claim.
What is compensation or benefit?
This person receives money from the insurance in the event of a claim.
Who is the insured or beneficiary?
This insurance covers medical expenses in case of illness.
What is health insurance?
This discount in car insurance is based on the number of years without accidents.
What is a no-claims bonus?
This term refers to the maximum amount an insurance will pay in case of a claim.
What is the coverage amount?
This entity checks if the claim is covered by the insurance policy.
What is the insurance company?
This term describes the event where insurance coverage applies, like an accident or damage.
What is an insurance claim?
This insurance protects against loss of income due to inability to work.
What is disability insurance?
This type of contract lowers premiums if you make fewer claims.
What is a bonus-malus system?
This term describes when the value of the insured item is higher than the insurance coverage.
What is underinsurance?
You should do this immediately after a claimable incident.
What is report the claim to the insurance company?
The amount the policyholder must pay out-of-pocket before the insurance covers the rest.
What does “deductible” mean in an insurance policy?
This insurance protects you if you cause damage to others.
What is liability insurance?
These factors influence the premium for life insurance.
What are age, health condition, and occupation?
This type of insurance covers accidents that happen outside of work as well.
What is accident insurance?
The insurance may reduce or deny the payout if the claim was caused by this.
What is gross negligence?