Unit 8 Test Review

This type of insurance will pay if your home is damaged OR will pay out if someone is hurt while at your home.

• Homeowners/ Property Insurance

• Renters Insurance

• Disability Insurance

• Flood Insurance

This type of insurance protects your belongings if you are NOT a homeowner - it protects them if they are destroyed by a fire or similar incident, or if they are stolen.

• Homeowner/ Property Insurance

• Renters Insurance

• Disability Insurance

• Flood Insurance

This type of insurance allows you to receive medial care - but instead of paying the full cost, you only pay a portion of it. This insurance pays the medical provider directly.

• Life Insurance

• Disability Insurance

• Health Insurance

• Renters Insurance

A person buys this type of insurance to ensure that their children, spouses, etc. will receive money after they die to help them pay for living and other expenses.

• Health Insurance

• Disability Insurance

• Life Insurance

• Liability Insurance

This is the minimum car insurance required by law. This insurance will only pay to fix the other vehicle if you are at fault in a car accident - it will NOT pay to fix your vehicle.

• Liability Insurance

• Full Coverage Insurance

• Property Insurance

• Disability Insurance

This insurance is required if you are still paying for a vehicle. It would pay to repair your vehicle as well as the other vehicle if you are found at fault in a car accident. This insurance will also pay to fix your car if you are in a single car accident - like if you hit a deer.

• Liability Insurance

• Full Coverage Insurance

• Disability Insurance

• Property Insurance

This insurance is meant to help pay for lost wages if you are unable to work due to an illness or injury. This pays you directly - not your medical provider.

• Health Insurance

• Property Insurance

• Liability Insurance

• Disability Insurance

This insurance will pay for water damage that does not come from inside the house (like rains or high tides). This is mandatory for people who live in areas where they are likely to suffer this type of damage - like on the beach.

• Flood Insurance

• Homeowners Insurance

• Renters Insurance

• Liability Insurance

This is the cost of your insurance. These payments vary in how frequently you pay. For instance, with health insurance you usually pay this with each paycheck, but for homeowners insurance you usually only pay this once a year.

• Deductible

• Co-Pay

• Claim

• Premium

In order for your insurance company to pay you, you must file this first. (For health insurance, your doctor or medical provider usually files this for you - but for every other type of insurance, you must file this in order to receive a payment from your insurance company.)

• Claim

• Co-Pay

• Deductible

• Premium