Insurance Review

Front

What is an insurance premium?

Back

An insurance premium is the amount of money that an individual or business must pay for an insurance policy. It is typically paid monthly, quarterly, or annually.

Front

What factors can reduce the cost of your insurance premium?

Back

Factors that can reduce the cost of your insurance premium include good grades, the number of miles you drive, and where you live.

Front

What is a deductible in insurance?

Back

A deductible is the amount of money that the insured must pay out-of-pocket before the insurance company will pay for any covered expenses.

Front

What is the difference between homeowners insurance and renters insurance?

Back

Homeowners insurance covers the structure of the home and personal belongings, while renters insurance only covers personal belongings and liability.

Front

What is typically NOT covered by a standard homeowner's insurance policy?

Back

Damage to a car parked in the driveway is typically not covered by a standard homeowner's insurance policy.

Front

What should Finn expect regarding the cost of homeowners insurance compared to renters insurance?

Back

Finn should expect that his homeowners insurance will be MORE expensive than his renters insurance was.

Front

What is liability coverage in insurance?

Back

Liability coverage is a type of insurance that provides protection against claims resulting from injuries and damage to people or property.

Front

What is the purpose of insurance?

Back

The purpose of insurance is to provide financial protection against potential future losses or damages.

Front

What is a policy in insurance terms?

Back

A policy is a contract between the insured and the insurer that outlines the terms, coverage, and conditions of the insurance.

Front

What is the role of an insurance agent?

Back

An insurance agent helps clients understand their insurance needs, provides quotes, and assists in purchasing insurance policies.