GHS Insurance Terms - Home and Vehicle

________ is protection against possible financial loss.

• Insurance

• Investment

• Taxation

• Loan

________ is a contract between an insurance company and a person by which that person joins a risk-sharing group.

• Policy

• Premium

• Dividend

• Bond

________ is the fee a policy holder pays for insurance.

• Premium

• Deductible

• Dividend

• Claim

________ is the chance of loss or injury.

• Risk

• Profit

• Luck

• Reward

________ is anything that may possibly cause a loss.

• Peril

• Premium

• Policyholder

• Deductible

________ is anything that increases the likelihood of loss through peril.

• Hazard

• Policy

• Premium

• Deductible

________ is the failure to take ordinary reasonable care to prevent accidents from happening.

• Negligence

• Diligence

• Awareness

• Compliance

________ is the set amount that a policy holder must pay per loss on an insurance policy.

• Deductible

• Premium

• Coverage

• Claim

________ is legal responsibility for the financial cost of another person's losses or injuries.

• Liability

• Asset

• Premium

• Deductible

________ is coverage that provides protection for your residence and its associated financial risks.

• Homeowners insurance

• Auto insurance

• Health insurance

• Life insurance