Insurance Basics
This is the monthly or yearly amount you pay for insurance coverage.
What is a premium?
This type of insurance covers damage to other people’s medical or car repairs if you cause an accident.
What is liability?
This is a doctor visit or prescription that doesn’t cost anything due to your plan.
What is preventative care?
This type of renter’s coverage protects your TV, laptop, and other belongings.
What is personal property coverage?
This insurance helps your family financially if you pass away.
What is life insurance?
This is the amount you have to have paid already before your insurance starts to pay.
What is a deductible?
This insurance covers damage to your car if you're at fault in a single-car wreck (i.e. hit a tree, drive off the road).
What is collision coverage?
This is a fixed fee you pay each time you use a certain health service at the doctor's office.
What is a copay?
This coverage helps if your guest gets injured in your apartment or you cause damage to a neighbor's apartment.
What is liability?
Joe bought life insurance so his family would have this if he died.
What is financial support?
This is a fixed amount you pay each time you visit the doctor or pick up a prescription.
What is a copay?
This coverage pays for damage to your car from events that are out of your control like hail, floods, or theft.
What is comprehensive coverage?
This term describes what you must pay even after your insurance pays their part.
What is out-of-pocket pay or coinsurance?
If a fire forces you out of your apartment, this pays for your hotel stay.
What is additional living expenses?
True or False: Everyone, even young single people, needs life insurance.
What is false?
This is the percentage of costs you still pay even after your deductible has been met.
What is coinsurance?
This covers you if another driver hits you but doesn’t have enough insurance.
What is uninsured/underinsured motorist coverage?
After age 26, you can no longer be on this person’s health plan.
What are my parents?
True or False: Renter’s insurance includes collision coverage for your car.
What is false?
These factors can impact your car insurance rate.
What are age, gender, driving history, legal record, miles driven etc.?
This is the term for an agreement where a company pays for your losses in exchange for regular payments.
What is insurance?
This type of insurance pays for your injuries no matter who caused the crash.
What is personal injury protection?
This type of cost-sharing has you paying a percentage (like 20%) after your deductible.
What is coinsurance?
Angelica is sued after a friend gets hurt at her party. This coverage helps her pay.
What is liability?
This person would most likely have the highest car insurance premium: a 17-year-old male or a 55-year-old male?
What is a 17-year-old male?