Insurance

The amount you pay for insurance coverage.

• Premium

• Deductible

• Co-Pay

• Policy

The contract which details your insurance coverage.

• Premium

• Deductible

• Co-Pay

• Policy

The amount of money you must pay upfront/out of pocket before your insurance coverage begins to pay.

• Premium

• Deductible

• Co-Pay

• Policy

All homeowners insurance policies cover flood damage. 

• True
• Flase

Marco owns a restaurant. One of Marco's chefs just got injured by slipping on a greasy floor. What type of insurance might protect Marco in this situation?

• Life insurance
• Medicare
• Liability insurance
• Diversification insurance

A person buys a homeowner’s insurance policy with a $250 deductible, which means the person will 

• a. have to pay a quarterly premium of $250.
•  b. have to pay the first $250 which will be deducted from the claim settlement paid by the insurance company. 
• c. only receive payment from the insurance company of $250 for any single article damaged.
•  d. not be responsible for the first $250 of the claimed damages.

Someone uses your address and credit card number to rack up $50,000 in charges. Which of the following would help you cover those losses?

• Homeowners / Renters Insurance

• Umbrella Insurance

• Health Insurance

• Identity Theft Protection

The amount of money you must pay upfront/out of pocket at a medical office before seeing the doctor/specialist.

• Premium

• Deductible

• Co-Pay

• Policy

If you have a higher premium it will usually mean a ________ deductible.

• Higher

• Lower

You must file a _______ for reimbursement or asking the insurance company to pay.

• coverage

• claim

• deductible

• policy