Insurance Knowledge Quiz

What is the purpose of the Georgia FAIR Plan?

• To insure property that insurance companies will not cover

• To provide life insurance for senior citizens

• To provide insurance for high-risk drivers

• To offer health insurance to low-income families

Who funds the Georgia FAIR Plan?

• The federal government

• Every company selling property insurance in Georgia

• Homeowners

• The State of Georgia

Where can you obtain a C.L.U.E. report?

• From your insurance agent

• From ChoicePoint over the web or through regular mail

• From the Georgia Insurance Department

• From the local courthouse

What is a strong predictor of insurance claims according to studies?

• The manner in which a person manages his or her finances

• The location of the property

• The age of the insured

• The type of property owned

What should you do if your home is damaged and you need to file a claim?

• Move to a new home

• Wait for the insurance company to contact you

• Make temporary repairs and keep the receipts

• Dispose of the damaged property immediately

Who evaluates damage and makes settlement offers inside the insurance company?

• The insurance company's CEO

• The policyholder

• The claims adjuster

• The insurance agent

What can you do if you are not satisfied with the handling of your claim?

• Ignore the issue

• Contact the Georgia Insurance Department’s Consumer Services Division

• Cancel your insurance policy

• File a lawsuit immediately

What is the first step in resolving a dispute about the amount of loss?

• Contact the local police

• Make a written demand for appraisal

• File a complaint with the Georgia Insurance Department

• Hire a lawyer

Who pays for the appraiser in the appraisal process?

• The insurance company pays for both appraisers

• The policyholder pays for both appraisers

• Each party pays for their own appraiser

• The cost is split equally between the policyholder and the insurance company

What affects your insurance premium related to fire protection?

• The number of fire stations in your city

• The age of your home

• How quickly the local fire department can reach your house

• The type of roofing material on your house