Insurance basics
The chance that something bad will happen.
What is a risk?
Covers damages to your car, even if it’s your fault.
What is collision?
A small fixed amount you pay each time you get care.
What is Co-payment?
This term means the company will pay to buy your items brand new not just what they were worth used.
What is replacement value?
This is the amount of money you pay every month or year to keep your insurance active
What is a permium
A person who studies numbers and data to calculate risk and help to set prices.
What is an actuary?
Damages outside your influence or control.
What is comprehensive?
A percentage you pay after insurance help
What is Co-insurance?
This part of a policy pays to replace your stuff if it’s stolen or damaged.
What is personal property coverage?
A request asking the insurance company to pay for a loss
What is a claim?
Maria is a person who helps others find and buy the best insurance policy.
What is a broker?
Covers damages to others including, bodily injuries and property damage.
What is liability?
Sara has insurance given for the government since she has a low income.
What is Medicaid?
This coverage pays for a hotel and meals if your apartment becomes unlivable after a covered loss.
What is loss-of-use coverage?
It’s the amount you must pay out of pocket before your insurance starts helping.
What is a deductible?
Susan requested the bank to pay for a loss.
What is a claim?
David gets in a car crash with a driver who doesn't have insurance.
What is uninsured/underinsured motorist coverage?
Karen has to pick a main doctor and needs their referral to see specialista.
What is health maintenance organization (HMO)?
If a guest trips in your apartment and gets hurt this coverage protects you from paying medical or legal bills.
What is liability coverage?
A person who decides if someone can get insurance and how much their premium will be
What is a underwater?
Robert went to the insurance company and they told him the maximum amount the company will pay.
What is a limit?
This insurance is also known as “No fault insurance.”
What is personal injury protection?
Enrique can go to any docto, even out of net work, without a referral.
What is preferred provider organization (PPO)?
This policy option pays to replace your items with brand new ones instead of their used or depreciated value
What is replacement cost coverage?
This professional doesn’t work for any company, but instead shops multiple carriers to find clients the best coverage options.
What is a broker?