Insurance
The price you pay for your insurance policy.
What is Premium?
Your premium goes down after you turn 25 because this factor changes.
What is your age?
The fixed dollar amount you pay at a doctors office—like 20$ for a visit
What is a Co-Payment
This type of insurance protects your personal belongings and liability when you live in a rental home or apartment
What is renters insurance?
They money you pay first for a claim before the insurance company starts paying.
What is a Deductible?
After you hit another drivers bumper, this coverage pays to fix your car.
What is property liability damage?
Once meeting your deductible, a percentage of a healthcare service cost is introduced.
What is a Co-Insurance
If your apartment becomes unlivable after a covered loss, this part of your policy pays for hotel and food costs.
What is Loss of Use Coverage?
What is Insurance?
What is $10,000 in PDL?
This is the most you’ll have to spend in a year on covered medical services before your insurance pays 100% of the costs.
What is a out-of-pocket maximum?
This is the amount you must pay out of pocket before your insurance begins to cover a loss.
What is a deductible?
A formal request to your insurance company for payment after a loss.
What is a claim?
This coverage helps pay to repair your car after another driver hits you and is at fault.
What is collision coverage?
A program funded by the US Government and administrated by the CMS.
What is Medicare?
This section of your policy pays if a guest is injured in your home and you are legally responsible.
What is a liability coverage?
An insurance company employee who evaluates your application and decides whether to insure you and at what cost?
What is an Underwriter?
This is the factor that correlates to the money you pay first for a claim before the insurance company starts paying it.
What is a Deductible auto insurance rate?
A type of health insurance plan that provides coverage through a specific network of doctors and hospital.
What is Health Maintenance Organization (HMO)?
This payout method reimburses you based on the value of the item after depreciation is subracted.
What is actual cash value?