Bus Math Ch 6 Quiz#2 (Practice)

What term is used to describe the amount of a loss claim paid by the insured?

• Premium

• Deductible

• Rebates

• Base Price

Which term refers to the home in which you live?

• Dwelling

• Personal Property

• Homeowners Insurance

• Off Premises

What is the term for a policy that protects your home and personal property against losses?

• Renters Policy

• Rider

• Homeowners Insurance

• Personal Liability

Which term describes the insurance that covers your personal property when you are away from home?

• Off Premises

• Personal Property

• Deductible

• Premium

What term is used for the portion of an insurance policy that protects you in case of lawsuits by persons injured on your property?

• Personal Liability

• Homeowners Insurance

• Rider

• Renters Policy

What is the term for the contents of your home that you own?

• Personal Property

• Dwelling

• Premium

• Deductible

What term describes the money paid to an insurance company for property insurance to transfer risk of loss to the insurance company?

• Premium

• Deductible

• Rebates

• Rider

Which term refers to the insurance coverage that provides nearly the same coverage as a homeowners policy except for loss of the dwelling and other structures?

• Renters Policy

• Extended Warranty

• Rider

• Personal Liability

What term is used for insurance coverage added to a standard insurance policy?

• Rider

• Renters Policy

• Rebates

• Premium

The amount an insured must pay against a claim after the deductible is satisfied.

• Coinsurance

• Deductible

• Copay