Auto
Name 2 of the 5 Factor's that affect how much you pay for Car Insurance
Your Deductible, Your Vehicle, How much you drive, Your driving history, Your personal history/info
What do you own when you rent?
Only the things you paid for that are inside the apartment/home/other dwelling
What does "Dwelling Coverage" Cover
Covers the structure but not the land
What is the plan that has the lowest amount of coverage? (think metals)
Bronze
Notice to an insurer that under the terms of a policy, a loss maybe covered.
Claim
What Type of Insurance Covers:
Bodily Injury
Property Damage of others
NOT your damages
Liability
The coverage under renters insurance will cover the costs of the following items EXCEPT:
Your personal belongings
The damage to the building
Hotel you have to stay at until your apartment can be repaired
Small alterations to the property you made at your own expense
The damage to the building
What does "Other Structures" cover
Covers other structures on your property like sheds and detached garages
What is the plan that has the highest amount of coverage? (think metals)
Platinum
The amount of money an insurance company charges for insurance coverage. Usually a monthly payment
Premium
What does collision cover?
Damage to YOUR car
There is a fire in the building and you must vacate the property this would cover hotel fees until you are allowed back in the building. What is this type of coverage called
Loss of Use Coverage
What does "Personal Property" cover?
Covers the things you own inside of your house
If you have an HMO what happens if you need to see a doctor out of your network?
You will generally have to pay all costs out-of-pocket unless it is a true medical emergency or you have no other options
The amount of the loss which the insured is responsible to pay before benefits from the insurance company are payable.
Deductible
Why is Uninsured/Underinsured Motorist Coverage important?
Helps cover you if you are hit by an uninsured or underinsured driver, otherwise you are responsible
Does property coverage cover the building/other structures in the apartment?
NO. It only covers personal belongings and things that you paid for out of your own pocket
What does "Personal Liability" Cover?
Protects you from lawsuits from somebody who was injured on your property
What should you do if you cannot pay a medical bill due to a hard time?
explain
Maximum amount a policy will pay either overall or under a particular coverage.
Limit
Norris has a deductible of $1,000. He damages his car in an accident and it will cost $3,300 to repair. How much does his insurance company cover?
$2,300
What is a Lease?
A legally binding contract between a landlord and a tenant that outlines the terms of the rental agreement
What number did Mrs. Canary write down on her white board?
Reveal
The LOWER the actuarial value of your health insurance plan, the ____________ your monthly premium.
LOWER
A decrease in value due to age, wear and tear, etc.
Depreciation