Insurance

Front

What does the $1000 represent in Manny's car insurance after an accident with a bill totaling $11,500?

Back

Deductible

Front

Why won't Alice's strategy of buying renters insurance only when something bad happens work?

Back

Insurance companies will only cover losses suffered while the policy is already in place.

Front

What role does insurance play in financial planning?

Back

It helps guarantee that income and assets (like a car or belongings) are protected.

Front

The out of pocket cost to the insured when a loss occurs is called...

Back

Deductible

Front

This professional analyzes statistics and uses them to calculate risks and premiums.

Back

Actuary

Front

A rock hits your windshield. Which type of coverage would likely cover this expense?

Back

Comprehensive

Front

All are factors that impact the cost of your auto insurance premium EXCEPT...
Deductible amount, The vehicle you are insuring, Your credit score, Your income

Back

Your income

Front

Which of the following wouldn't save you money on your auto insurance premium?
- Decrease your deductible
- Reduce or eliminate optional insurance on an older vehicle
- Maintain a good credit history
- Being married

Back

Decrease your deductible

Front

Which of the following drivers would most likely pay the LOWEST auto insurance premium?
Options: New driver with less than one year of driving experience, Experienced driver with a good driving record, Driver with multiple accidents in recent years, Experienced driver with 120 mile commute to work

Back

Experienced driver with a good driving record

Front

A policy is a contract between the

Back

Policyholder and the insurance company