Insurance Terms Quiz

The amount of money you have to pay before your insurance company pays a claim.

• The premium

• coverage limit

• deductible

• co-payment

The amount of money a person or business pays for an insurance policy.

• deductible

• Coinsurance

• co-payment

• premium

The higher your deductible, the higher your premium.

• True

• False

The maximum amount of money the insurance will pay for a coverage.

• coverage limit

• deductible

• co-payment

• Coinsurance

A fixed, predetermined amount you pay for a covered health care service at the time of care. Example: $20 for an office visit.

• Coinsurance

• co-payment

• deductible

• the premium

The percentage of costs of a covered health care service you pay (20%, for example) after you've paid your deductible.

• The premium

• deductible

• co-payment

• Coinsurance

Insurance you must have to cover damage to your vehicle in the event of an accident whether you are at fault or not:

• Liability

• Comprehensive

• Personal Injury Protection

• Collision

Insurance you must have to cover damage to your vehicle caused by things beyond your control:

• Liability

• Comprehensive

• Personal Injury Protection

• Collision

Insurance you must have to cover bodily injury and damage to other vehicles in an accident that you were at fault for:

• Liability

• Uninsured or underinsured driver

• Personal Injury Protection

• Collision

Insurance you must have to cover bodily injury to you or others in your vehicle during an accident:

• Liability

• Uninsured or underinsured driver

• Personal Injury Protection

• Collision