Automobile Insurance Concepts

The video tutorial covers the math behind auto insurance, including types of coverage, costs, and claims. It explains key terms like liability, bodily injury, and property damage insurance. Through examples, it demonstrates how to calculate premiums, deductibles, and insurance payouts. The lesson also covers personal injury protection and its application in various scenarios.

What is the primary focus of the lesson introduced by Mr. Holcomb?

• Home insurance

• Automobile insurance

• Health insurance

• Life insurance

What does the term 'liable' mean in the context of automobile insurance?

• Being at fault for damages

• Being responsible for damages

• Being insured against damages

• Being exempt from damages

Which type of insurance covers damages to another vehicle if you are at fault?

• Liability insurance

• Comprehensive insurance

• Personal injury protection

• Collision insurance

How often does Quan pay his insurance premium if he pays quarterly?

• Once a year

• Twice a year

• Four times a year

• Every month

If Stan causes $7,600 in property damage, how much does he pay if his insurance covers up to $25,000?

• $17,400

• $0

• $25,000

• $7,600

What is the deductible amount Peter must pay if his collision insurance has a $1,000 deductible?

• $3,300

• $4,300

• $1,000

• $0

In the case of a stolen car, how is the insurance payout calculated?

• No payout

• Deductible amount only

• Total value of the car

• Value of the car minus deductible

What is the maximum amount per person that Bob's insurance will pay in a bodily injury claim?

• $140,000

• $100,000

• $300,000

• $75,000

How much will Joan's insurance pay in total if 28 children are awarded $10,000 each?

• $280,000

• $0

• $100,000

• $50,000

What type of insurance is mandatory in some states and covers physical injuries regardless of fault?

• Collision insurance

• Comprehensive insurance

• Personal injury protection

• Liability insurance