Which of the following terms describes the scope of protection provided under an insurance policy?

Which of the following terms describes the fee the policyholder pays to the insurance company in order to be insured for a defined period of time?

Which of the following terms describes the portion of a claim the policyholder must pay before the insurance company provides the benefits?

Which step of choosing an insurance program involves individuals determining their methods of reducing risk?

Which of the following types of risks are completely accidental and unintentional?

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

Which of the following types of risks carry a chance of either loss or gain?

Raul has a policy with his auto insurance company. A repair covered by the policy costing $1,500 would require him to pay $600 and then the insurance covers the remaining $900. What is another name for the $600 Raul must pay?

Select all of the following which are important factors when setting insurance goals.

Hazard is anything which increases / decreases the likelihood of loss through some peril.

Select all of the following, which are important factors when choosing an insurance company.

__________ is anything which may cause a possible loss.

How many price quotes should consumers compare in order to get a reasonable price?

Insurance acts like a safety net for unforeseen events.

If an individual asked themselves “do I have any new needs”, which of the following steps of selecting an insurance program would it fulfill?

Which of the following government agencies can confirm whether an insurance company has a valid license?

True or False: A peril is an event that can cause a financial loss, such as a fire or theft.

True or False: A premium is the amount paid by the insurance company to the policyholder in the event of a claim.

What is the term for the maximum amount an insurance company will pay for a covered loss?