Car Insurance Terminology

What is a claim?

• its a report to an insurance company on damage to your car

• its how much money you owe to the insurance company every year

• the amount of money you owe out of pocket to an insurance company

• its how much you're covered up to

There are two types of insurance claims.

• Deductible and Premium

• Health Emergency and Hospital Stay

• Collision and Comprehensive

• Total Loss and Loss of Vehicle

What does the term "premium" mean?

• what options are available for tow service

• how much do you pay for insurance

• how much do you pay out of pocket if an accident occurs

• how much damage is covered by your insurance

There are several options to pay for insurance. What are they?

• pay every month is the only option

• pay every week, every month, every 3 months

• pay every 6 months, pay for 2 years, or pay every 5 years

• pay every month, pay for 6 months, or pay for a year

How much liability should you have if you do not have a spouse or children, and you're just covering yourself for car insurance?

• $25,000 to $50000

• $50,000 to $100,000

• $100,000 to $150000

• $100,000 to $300,000

What does the word "tort" mean in relation to car insurance?

• your ability to sue for damages

• your ability to get a check from insurance company

• the amount of money the insurance company pays out

• the amount of damage to your vehicle

According to my advice, a person with no spouse or children should get

• limited tort

• full tort

• double tort

• tort for couples

What are the three options for a deductible?

• 50 dollars

  100 dollars

  1000 dollars out of pocket expenses for an accident

• 100 dollars

  200 dollars

  500 dollars out of pocket expenses for an accident

• 100 dollars

  500 dollars

  1000 dollars out of pocket expenses for an accident

• 500 dollars

  1000 dollars

  2000 dollars out of pocket expenses for an accident

When it comes to a deductible, whats the best option to have when it comes to paying out of pocket to fix your car?

• Collision-$500 dollars

  Comprehensive (COMP)-$100 dollars

• Collision-$1000 dollars

  Comprehensive (COMP)-$1000 dollars

• Collision-$500 dollars

  Comprehensive (COMP)-$1000 dollars

• Collision-$1000 dollars

  Comprehensive (COMP)-$100 dollars

TRUE/FALSE- A good GPA (above 3.0) in high school or college will get you a discount for car insurance?

• TRUE

• FALSE