Insurance Vocab Quiz

The Company or agency that writes an insurance policy

• Insurer

• Insured

• Policyholder

• Underwriter

What it would cost to replace a piece of property, or rebuild a structure

• Comprehensive Coverage

• Replacement Cost

• Deductible

• Premium

The owner of an insurance policy

• Insured

• Insurer

• Policyholder

• Underwriter

An individual, usually but not always the buyer, covered by an insurance policy

• Policyholder

• Insured

• Insurer

• Underwriter

Insurance designed to pay for the repair or replacement of the policy owner's car in the event of damage not resulting from an accident

• Collision

• Comprehensive Coverage

• Property Damage Liability

• No Fault Insurance

Protection against a specific kind of loss

• Deductible

• Coverage

• Premium

• Risk

A contract written to protect individuals named in the policy against specific future losses

• Premium

• Insurance Policy

• Deductible

• Coverage

A situation in which some kind of loss is possible

• Risk

• Peril

• Liability

Legal responsibility

• Liability

• Coverage

• Premium

• Replacement Cost

In auto insurance, liability coverage that pays for physical injury to people in other vehicles

• Bodily Injury Liability

• Property Damage Liability

• Comprehensive Coverage

• Medical Payments