Insurance Vocabulary Test

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

• Premium

• Deductible

• Insurance

• Actuary

A contract in which an individual or entity receives financial protection or reimbursement against losses

• Conditions Of The Policy

• Insurance Agent

• Insurance Policy

• Deductible

The portion of a car insurance policy that spells out the details for how to make a claim, what information you must have, how much time you have, and how to cancel your policy

• Declarations Page

• Insuring Agreement

• Comprehensive Coverage

• Conditions Of The Policy

The amount of money you agree to pay towards your losses before your insurance coverage will begin paying

• Premium

• Insurance

• Minimum Liability Limit

• Deductible

An employee of an insurance company who sells insurance policies and provides customer service

• Actuary

• Insurance Agent

• Deductible

• Probability

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

• Liability Coverage

• Disability Insurance

• Collision Coverage

• Comprehensive Coverage

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

• Comprehensive Coverage

• Collision Coverage

• Liability Coverage

• Personal Injury Protection (pip)

A formal request from the customer to an insurance company asking for a payment based on the terms of the insurance policy

• Deductible

• Comprehensive Coverage

• Claim

• Copay

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

• Liability Coverage

• Hmo

• Comprehensive Coverage

A set dollar amount you agree to pay each time you receive medical treatment, while the insurance company agrees to cover the rest

• Copay

• Claim

• Premium

• Deductable