Unit 9 - Insurance

The regular payment you make to the insurance company to have insurance.

• Premium

• Policy

• Claim

• Deductible

The legal contract to purchase insurance

• Premium

• Policy

• Claim

• Deductible

A formal request for payment from the insurance company.

• Premium

• Policy

• Claim

• Deductible

The amount you pay before the insurance company pays for a claim

• Premium

• Policy

• Claim

• Deductible

Covers the cost of injury to others and property damage caused by you

• Premium

• Policy

• Liability

• Comprehensive

Pays for the medical or funeral expenses for you and your passengers in a car accident

• Collision

• Liability

• Comprehensive

• Medical

Pays for the damage to your car caused by something other than a car accident

• Liability

• Medical

• Collision

• Comprehensive

Pays for the damage to your car caused by colliding with another car or object

• Collision

• Comprehensive

• Liability

• Medical

Provides additional liability coverage beyond that included in your auto or homeowners policy

• Umbrella Policy

• Term Life

• Tarp Policy

• Tent Policy

Life Insurance for a specified time period that will only pay a benefit during that period

• Whole Life Insurance

• Term Life Insurance