Unit 6: Insurance [pre]

An employee of an insurance company who calculates risk based on loss percentages and determines insurance rates and premiums

• actuary

• insurance agent

A formal request to your insurance company asking for a payment based on your insurance policy's terms

• copay

• extended warranty

• claim

• premium

An agreement where you make regular payments to a company and the company promises to pay you money if you suffer an injury, illness, loss, etc.

• risk

• insurance

• loss

• copay

A set dollar amount you pay each time you receive medical care, while the insurance company pays the rest

• copay

• premium

• risk

• collision coverage

A situation involving exposure to danger, harm, or loss

• liability coverage

• quote

• risk

• loss

Auto insurance that protects you against costs to repair your own vehicle after a crash

• collision coverage

• comprehensive coverage

• liability coverage

• Personal Injury Protection (PIP)

Auto insurance that protects you against costs to repair or replace your vehicle after events out of your control such as weather, vandalism, theft, etc.

• collision coverage

• comprehensive coverage

• liability coverage

• Personal Injury Protection (PIP)

Auto insurance that protects you against medical costs for the bodily injury of others and damages to the property of others if you are at fault in an accident

• collision coverage

• comprehensive coverage

• liability coverage

• Personal Injury Protection (PIP)

Auto insurance that protects you against cost of your own medical bills if you are involved in a car accident

• collision coverage

• comprehensive coverage

• liability coverage

• Personal Injury Protection (PIP)

An additional form of protection that can be purchased to extend/enhance a manufacturer's warranty on consumer goods, like phones and electronics

• extended warranty

• comprehensive coverage