Auto Insurance

What is auto insurance?

• is an arrangement between an individual (consumer) and an insurer (insurance company) to protect the individual against risk from automobile accidents.

• The amount that you pay for the vehicle itself at the dealership

• Something you can get if you want but it is not required by law

• Nothing im[portant

Why do we need auto insurance, other than because it is required by law?

• You don’t, it is not required by law

• It is required by law and it protects you and helps you lower risk

• It give you a discount on your car

• It pays for your car

What is a policy?

• Is the fee paid to the insurer to be covered under the specified terms.

• Nothing, it doesn't matter

• A contract between the individual and the insurer specifying the terms of the insurance arrangements. The policy will say the premium and the deductible amounts.

• Is the amount paid by the policy holder for the initial portion of a loss before the insurance coverage begins.

What is a premium?

• Is the fee paid to the insurer to be covered under the specified terms.

• Nothing, it doesn't matter

• A contract between the individual and the insurer specifying the terms of the insurance arrangements. The policy will say the premium and the deductible amounts.

• Is the amount paid by the policy holder for the initial portion of a loss before the insurance coverage begins.

What is a Deductible?

• Is the fee paid to the insurer to be covered under the specified terms.

• Nothing, it doesn't matter

• A contract between the individual and the insurer specifying the terms of the insurance arrangements. The policy will say the premium and the deductible amounts.

• Is the amount paid by the policy holder for the initial portion of a loss before the insurance coverage begins.

What are the 6 factors that affect insurance rates?

• Age, gender, marital status, driving record, vehicle use, place of residence, and type/ age of vehicle

• Grades, age, gender, marital status, type of house you have, and what you had for breakfast

• Nothing, all rates are the exact same.

• Grades, age, gender, marital status, type of house you have, and what you had for breakfast