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Insurance vocabulary terms

Total questions: 19

Worksheet time: 16mins

Name
Class
Date
1.

This is a request made by the insured (you or I) for insurer (insurance company) to send payment due to loss incurred and covered under the policy agreement

a)
Exclusion
b)
Premium
c)
Deductible
d)
Claim
2.

This is the money paid by the consumer to the insurance company for a specified dollar amount of coverage.

a)
Exclusion
b)
Premium
c)
Deductible
d)
Claim
3.

This is the portion of the insured loss (in dollars) paid by the policy holder (insurance company).

a)
deductible
b)
premium
c)
coverage limit
d)
excess fee
4.

This is automobile insurance that protects your own car against damage from accidents or vehicle overturning. This coverage will pay for the damage to your car in the event you are at fault.

a)
Liability insurance
b)
Comprehensive insurance
c)
Personal injury protection
d)
Collision insurance
5.

The type of car that you drive, and the number of miles that you drive every day can increase your insurance premium (what you pay for coverage)?

a)
True
b)
False
6.

Automobile insurance that pays for your injuries when the other driver is legally liable but unable to pay.

a)
Liability coverage
b)
Collision coverage
c)
Comprehensive coverage
d)

Uninsured/Underinsured coverage

7.

Automobile insurance in which drivers receive reimbursement from their own insurer, no matter who caused the accident.

a)
No-fault insurance
b)
Comprehensive coverage
c)
Liability insurance
d)
Collision insurance
8.

Why do young, single drivers generally pay higher automobile insurance premiums than do married drivers over 25?

4 lines
9.

This is a group of people who are unable to obtain automobile insurance due to high risk.

a)
Safe drivers
b)
Regular policyholders
c)
Low-risk motorists
d)

Assigned risk pool

10.

Automobile insurance that pays for medical, hospital, and funeral costs of the insured's family and passengers, regardless of fault.

a)

collision coverage

b)

comprehensive coverage

c)

personal injury protection

d)

umbrella liability insurance

11.

Generally, older cars require less insurance than newer cars because they are worth less

a)
True
b)
False
12.

The farther you drive on a regular basis, like driving to work, the higher your insurance premium will be.

a)
True
b)
False
13.

This is insurance that protects property owners from property and liability risks

a)
Auto insurance
b)
Flood insurance
c)
Homeowners insurance
d)
Renters insurance
14.

This is a written amendment to an insurance policy

a)

endorsement

b)

Co-insurance clause

c)

personal property floater

d)

Uninvited guest

15.

People like door-to-door salesmen or delivery people are presumed to have permission to your property

a)
True
b)
False
16.

Why do renters need insurance?

4 lines
17.

This is a dangerous place, condition, or object that is particularly attractive to children, like a swimming pool or trampoline.

a)

Attractive nuisance

b)

uninvited guest

c)

a writ

d)

assigned risk pool

18.

According to this lease, when is rent due?

a)
On the 15th of each month
b)
At the end of the month
c)
Every Friday of the month
d)
The first day of each month
19.

Match the following

a)

auto insurance that protects your car against damage from accidents

1.

Collision coverage

b)

auto insurance that protects from hail, fire, vandalism etc.

2.

Comprehensive coverage

c)

auto insurance that protects you when the other driver is liable but is unable to pay

3.

Uninsured/Underinsured coverage

d)

consists of people who are unable to obtain insurance due to the high risk they represent

4.

Assigned-risk pool

e)

includes the number and type of traffic tickets that you have received.

5.

Driving record