Auto Insurance
What covers a hit by an uninsured driver
What is uninsured motorist coverage?
a contract where an individual receives financial protection from a certain company.
What is insurance?
The amount of money it would cost to replace your damaged or stolen personal property without deducting for depreciation.
Replacement Value
The fixed amount you pay for a service.
Copayment
This is the maximum amount of money an insurance company will pay towards a covered claim or per covered event.
What is limit
Protects you from losses but not from damages.
What is comprehensive?
The amount of money paid by the insured to the insurance company to obtain an insurance policy.
What is premium?
The payout amount for damaged or stolen items, calculated as the cost to replace it today minus a deduction for depreciation.
Actual Cash Value
The most you’ll have to pay for covered services in a plan year.
Out of pocket max
This term is the potential for financial loss or the uncertainty regarding the frequency of events.
What is risk?
The more you drive, the higher your insurance premium is likely to be
What is mileage?
This is the maximum amount of money an insurance company will pay towards a covered claim or per covered event.
Your laptop gets stolen from your apartment, this part of renters insurance pays to replace it.
Personal Property Coverage
A federal health insurance program for people of ages 65 and older.
Medicare
Type or plan that contracts with a network of doctors and hospitals.
Health Maintenance Organizations
covers damage to another person’s property in an accident you cause.
What is $10,000 in property damage liability (PDL)?
Working primarily for an insurance or investment firm, the professional is responsible for evaluating the risk of insuring a client or a new security issuance.
What is underwriter?
A guest trips over your rug, twists their ankle, and wants you to cover their medical bills, this renters insurance coverage protects you.
Liability coverage
A federal 4 state program that helps with medical costs for people with limited income and recourse.
Medicaid
Type of plan that provides coverage through a network of “preferred” or “in-network“ doctors and hospitals.
Preferred Provider Organization
You must be insured with______ insurance at the time of registration.
What is PIP?
Acting as an agent, this individual brings together a buyer and a seller, earning a commission on the resulting transaction, but never taking ownership of the item or security himself.
A fire forces you out of your apartment for two weeks, and you have to stay in a hotel, this insurance covers the hotel, food, and expenses.
Loss of use coverage
A law that requires health plans to cover pre-existing conditions.
Affordable Care Act
A hybrid plan that combined features of HMO’s and PPO’s. You also pay less when using providers in the plans network but have an option to go out-of-network.
Point of Service