Insurance Vocabulary Test

Front

An agreement where you make regular payments to a company and the company promises to pay you money if you suffer an injury, illness, loss, etc

Back

Insurance

Front

A contract in which an individual or entity receives financial protection or reimbursement against losses

Back

Insurance Policy

Front

The portion of a car insurance policy that spells out the details for how to make a claim, what information you must have, how much time you have, and how to cancel your policy

Back

Conditions Of The Policy

Front

The amount of money you agree to pay towards your losses before your insurance coverage will begin paying

Back

Deductible

Front

An employee of an insurance company who sells insurance policies and provides customer service

Back

Insurance Agent

Front

Auto insurance that protects you against medical costs for the bodily injury of others and damages to the property of others if you are at fault in an accident

Back

Liability Coverage

Front

Auto insurance that protects you against costs to repair your own vehicle after a crash

Back

Collision Coverage

Front

A formal request from the customer to an insurance company asking for a payment based on the terms of the insurance policy

Back

Claim

Front

Auto insurance that protects you against costs to repair or replace your vehicle after events out of your control such as weather, vandalism, theft, etc.

Back

Comprehensive Coverage

Front

A set dollar amount you agree to pay each time you receive medical treatment, while the insurance company agrees to cover the rest

Back

Copay