Insurance Review

Which of the following are examples of risk management?

• wearing a seat belt

• not texting while driving

• shoveling your front sidewalk

• all of these

Why is insurance important?

• so you can engage in risk and not worry

• so you can not worry about paying any money when accidents happen

• so you can protect yourself from losing alot of money in the event something happens to you or your property

• none of these

Which is TRUE of health insurance?

• you can only use only the doctors in your state

• you might get a lower standard of care if you don't have insurance

• you won't be able to go to a hospital without insurance

• selecting in-network doctors instead of out-of-network doctors can save you money

The policyholder will have to pay a ____________ per incident or loss in an insurance claim.

• coinsurance fee

• deductible

• claim

• premium

Which of the following will liability insurance cover?

• your own medical expenses

• property damage to your car

• either bodily injury or property damage to someone else or their vehicle

• none of these will be covered

The amount you pay for insurance is called a _____________.

• premium

• claim

• deductible

• liability

Risk involves:

• a chance of loss or injury

• unpredictability

• uncertainty

• all of these are involved with risk

Which of the following is TRUE of homeowner's insurance?

• it is a good idea to document your personal belongings by a list, videotape or photos so that you can speed up an insurance claim

• homeowner's insurance will cover only the inside of your home if you put in a claim

• home insurance will not cover any person who becomes hurt on your property

• damage to a shed or other attached structures would not be covered under homeowner's insurance

Carly has an expensive original painting that has been handed down from her great-grandmother. Which of the following would be the best way for Carly to insure such an item?

• under the liability section of her homeowner's insurance policy

• under the comprehensive section of her homeowner's insurance policy

• with a personal property floater

• with a added coverage for "additional living expenses"

How much you pay for insurance depends upon which of the following?

• the type of policy you select

• the amount of coverage or limit you select

• the deductible amount

• all of these will affect how much you pay for insurance