Insurance Review

Front

What is Liability Insurance?

Back

Liability insurance is the minimum required by law that covers damages to other people's property or injuries to others in an accident you cause, but does not cover your own vehicle.

Front

What factors do insurance companies consider when setting premiums?

Back

Insurance companies consider factors such as how many miles you drive per year, your age, and your driving record. They do not consider your height.

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What is a deductible in insurance?

Back

A deductible is the amount you pay out of pocket before your insurance coverage kicks in. For example, if you have a $1,000 deductible and a loss of $800, you would receive $0 from the insurance.

Front

What type of insurance covers damage to your own vehicle?

Back

Collision insurance covers damage to your own vehicle resulting from an accident, while comprehensive insurance covers non-collision-related incidents.

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What does Comprehensive Insurance cover?

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Comprehensive insurance covers damages to your vehicle not involving a collision, such as theft, vandalism, or natural disasters.

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What is Renter's Insurance?

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Renter's insurance is a type of insurance that provides coverage for a tenant's personal property against theft, fire, and other risks.

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What is the purpose of a deductible in renter's insurance?

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The deductible is the amount you must pay before your insurance policy pays for a covered loss. It helps lower the insurance premium.

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What does a standard renter's insurance policy typically cover?

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A standard renter's insurance policy typically covers personal property, liability for injuries to others, and additional living expenses if the rental is uninhabitable.

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What is the difference between Liability and Comprehensive Insurance?

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Liability insurance covers damages to others in an accident you cause, while comprehensive insurance covers damages to your own vehicle from non-collision incidents.

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What is the coverage for personal property in renter's insurance?

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Renter's insurance covers personal property such as furniture, electronics, and clothing against risks like theft and fire.