Insurance Terms Flashcards

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 your own vehicle after a crash.

Back

Collision Coverage

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 fixed dollar amount that you agree to pay each time you receive medical treatment, such as a doctor's visit or prescription.

Back

Copay

Front

The maximum amount an insurance company will pay if you file a claim.

Back

Coverage Limit

Front

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

Back

Deductible

Front

A type of insurance paid to an individual if they are injured and unable to work for a specified length of time.

Back

Disability Insurance

Front

A form of property insurance, available to property owners, that covers losses to the physical structure as well as to their personal property and protects the insured person from liability claims.

Back

Homeowners Insurance

Front

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

Back

Insurance

Front

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

Back

Insurance Agent