Insurance Review

Front

What is an insurance Premium?

Back

A monthly payment to your insurer, regardless if you use services or not.

Front

What is the term for the percentage of medical expenses you pay after the deductible?

Back

Co-insurance

Front

When setting your premium, your car insurance company may consider each of the following EXCEPT: How many miles you drive per year, Your age, Your driving record, Your Height

Back

Your Height

Front

Insurance companies make money by...

Back

Collecting more in premiums than they need to pay out each year.

Front

Which statement is TRUE about auto insurance premiums? Options: If you don't file any claims for a year, you get your premiums back; If you get into multiple accidents in one year, your premium will decrease; Auto insurance premiums are the same across all companies; If you get into multiple accidents in one year, your premium will increase

Back

If you get into multiple accidents in one year, your premium will increase

Front

Your insurance costs $20/month with a $1,000 deductible. A thief steals your $800 TV. How much will the insurance pay?

Back

$0

Front

Which type of auto insurance covers a broken car window?

Back

Comprehensive

Front

Why choose long term disability insurance if you have health insurance?

Back

Health insurance only covers medical bills, while long term disability will help compensate for lost work with a percentage of their income

Front

You cause an accident and must compensate the injured person with $58,000. Your insurance coverage limit is $75,000 for Bodily Injury. How much will the insurance company pay?

Back

$58,000

Front

Frank has an auto policy with a $30,000 limit and a $1,000 deductible. Damages total $6,200. How much does Frank pay?

Back

$1,000