Auto Insurance Flashcard
Flashcard
•
Biology
•
10th Grade
•
Practice Problem
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
What is the cost in dollars of property damage or injuries covered in your policy?
Back
Loss
2.
FLASHCARD QUESTION
Front
What is a legal contract that transfers risk from a policyholder to an insurance provider?
Back
Insurance Policy
3.
FLASHCARD QUESTION
Front
Why is it important to have auto insurance?
Back
Because the law requires it, it helps limit financial losses when an accident occurs, it helps you to be prepared for the unexpected, and it plays an important role in your financial security.
4.
FLASHCARD QUESTION
Front
What do you pay the insurance company for covering your risk?
Back
Premium
5.
FLASHCARD QUESTION
Front
What is a statement detailing the premium you will pay for the specific coverage you request?
Back
Quote
6.
FLASHCARD QUESTION
Front
What is the amount you must pay out of pocket before your insurance coverage kicks in?
Back
Deductible
7.
FLASHCARD QUESTION
Front
What is the maximum amount an insurance company will pay for a covered loss?
Back
Limit
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