What is the main purpose of having auto insurance?

Insurance EverFi

Quiz
•
Business
•
12th Grade
•
Medium
Michael Driscoll
Used 4+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To be able to legally drive a car with others across the US
To get out of paying any money out of pocket when you get in an accident
To protect yourself against unintentional costs and financial loss
To elect a cost saving premium so you can save the most amount of money
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What would happen if your car were stolen and you didn't have auto insurance?
Your car loan institution (the bank you borrowed from) would be responsible for replacing your car
You would still have to pay off your car loan in full
The car dealership where you purchased the car would replace it
You would not be required to pay the rest of your car loan.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Anthony caused a minor accident when he hit another car. Anthony's insurance company said that he needed to pay $500 before they could pay the claim. What does the $500 most likely refer to in this insurance policy?
His auto insurance deductible
His auto insurance premium
His homeowners insurance
Hi health care copay
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of car insurance would you need to use if you damaged part of your neighbor's house in a car accident?
Collision
Bodily Injury Liability
Property damage Liability
Comprehensive
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Meri's roof was recently damaged by a hurricane. Luckily, she has homeowners insurance, and files a claim that gets approved. What will this insurance help her do?
Help her pay the costs to repair her roof
Help her start a neighborhood clean up project
Help her cover damages to her car
Pay 70% of her salary for up to 6 months
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Zack is 25, lives alone in an apartment, and works as a freelance developer. Why should he consider purchasing short-term disability insurance?
So he will have monetary protection in case he is unable to work due to illness or injury
So he will not need to purchase health insurance
So he will not have to get life insurance for the next 10 years
So he will have rental reimbursement in case he can no longer afford his apartment
Answer explanation
Short term disability insurance will pay part of your salary (usually 70%) while you are unable to work due to injury or illness.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In general, if you choose to have a HIGH deductible you will pay ________ for insurance premiums
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