Insurance

_____ is an agreement between the insured and the insurer which provides the insurer will pay a set percentage of the covered costs after the deductible has been paid.

• Co-pay
• Co-insurance
• Deductible
• Maximum out-of-pocket expense

Which type of car insurance is required in all states?

• Comprehensive

• Collision

• Liability

• All of the above

Raising your deductible may be a good option when it comes to lowering your premium, but it is important to do a break-even analysis before making that decision.^

• True
• False

Which type of insurance protects against loss due to death?

• Life
• Health
• Disability
• Long-Term Care

_________________________ provides protection against financial losses resulting from injury or illness.

• Disability Insurance
• Health Insurance
• Life Insurance
• Homeowner's insurance

Generally, the higher the deductible on an insurance policy, the

• higher the copay.
• worse the insurance
• higher the premium
• lower the premium

A person buys a homeowner’s insurance policy with a $250 deductible, which means the person will

• pay a quarterly premium of $250

• pay the first $250 of the claim settlement.

• only receive a $250 payment from the insurance company.

• not be responsible for the first $250 of the claimed damages.

Which of these would renter's insurance NOT cover?

• A fire destroys a renters belongings

• Someone breaks into a renters apartment and steals the television

• A hurricane damages the roof on a home you are renting

• Smoke damage from a fire ruins your belongings

Which is true about making an insurance claim?

• Making an insurance claim is the term used to describe paying the insurance bill.

• If you make an insurance claim, you won't be required to pay your premium that month

• If you make an insurance claim, you will pay the deductible.

• Most insurance policies do not allow you to make a claim.

Which type of auto policy coverage will pay for your car repairs if a tree branch falls on it?

• Collision

• Liability property damage

• Comprehensive

• Personal injury protection