Insurance Basics
This is the amount you must pay out of pocket before your insurance company pays.
What is a deductible?
Homeowners insurance typically excludes this type of natural disaster.
What is flood?
This is a formal request made to an insurance company for payment.
What is a claim?
This type of commercial policy bundles property and liability for small businesses.
What is a Businessowners Policy (BOP)?
This Founding Father started the first fire insurance company in the U.S.
Who is Benjamin Franklin?
This type of insurance covers damage to your vehicle after an at-fault accident.
What is collision coverage?
This type of auto insurance covers you if the other driver has no insurance.
What is uninsured motorist coverage?
This clause in a policy can reduce the payout if the insured is underinsure relative to the value of the property.
What is the coinsurance clause?
A certificate of insurance provides this.
What is proof of coverage?
This type of special event policy is popular for sponsored golf outings.
What is hole-in-one coverage?
What do we call a contract between you and your insurance company?
What is a policy?
This policy covers items like engagement rings and fine art separately from your Homeowner's policy.
What is a personal articles floater?
This term refers to damage that occurs over time and is often excluded.
What is wear and tear?
This form insures against employee lawsuits involving discrimination or wrongful termination.
What is Employment Practices Liability Insurance (EPLI)?
This beloved TV dog was the first pet to receive a U.S. pet insurance policy.
Who is Lassie?
This term describes the price you pay for your insurance policy.
What is the premium?
This coverage pays your medical bills if you're injured in a car you were driving.
What is medical payments?
A claim reported long after it occurred and could result in coverage denial.
What is late notice?
This type of policy insures equipment such as bulldozers and cranes.
What is inland marine insurance?
Lloyd's of London once insured this celebrity's taste buds.
Who is Gordon Ramsay?
The clause that prevents you from profiting from insurance beyond your loss.
What is the principle of indemnity?
This type of homeowners policy provide the broadest form of coverage, including open perils on both building and contents.
What is an HO-5 policy?
After a covered loss, this clause requires the insured to protect the property from further damage.
What is the duty to mitigate?
The ISO Commercial General Liability (CGL) policy includes this many coverage parts.
What is three (3)? Bodily Injury/Property Damage, Personal and Advertising Injury, and Medical Payments
This sci-fi scenario has actually been insured by over 6,000 people.
What is alien abduction?