The chance of loss from an event that cannot be entirely

controlled

The out‐of‐pocket money paid by the policyholder before an

insurance company will cover the remaining costs attributed to the loss

A contract between the insurance company and the insured

that states the exact terms of the policy including what risks are covered and how much will be paid for any losses

Which is the correct type of insurance that would be used: Arnold ’s great great great grandmother is killed in an automobile accident. What type of insurance would provide his family financial support to cover the paid and unpaid work his great great great grandmother performed?

Which is the correct type of insurance that would be used: Sally is not feeling well so her mother takes her to the doctor. The doctor tells her she has strep throat, gives her medication, and sends her home to recover. What type of insurance would be used in this case?

Which is the correct type of insurance that would be used: Joey’s father is in a car accident and cannot work. What type of insurance replaces his father’s earnings?

Liability insurance covers accidental harm that may be caused to other people or property.

What is an insurance premium?

Insurance companies make money by...

Which insurance coverage option would be the lowest priority for a single person person who graduated college 1-2 years ago?

A insurance deductible is

While jumping on the trampoline at your house, your daughter’s friend broke her arm. Which type of insurance would MOST likely cover you for this incident?

Derrick recently got married and has a small child. For the first time in his life, he worries about what will happen to his home and his other property after he dies. He also wants to make sure his child is taken care of if he dies. What should Derrick prepare?

Michael’s basement recently flooded. He has a homeowner’s policy covering flood damage that has a $500 deductible. The total damages to the basement totaled $2500. How much will the insurance company pay in this scenario?

If Damien loses his job due to injury, he worries that his family won’t be able to survive without his income. He decides to purchase disability insurance that will provide money for him and his family if he should ever become physically unable to work. By purchasing this type of insurance, from which type of risk is Damien trying to protect himself?

Donald’s home was recently destroyed by a fire. He made an insurance claim for $250,000. Who is responsible for paying him the $250,000?

Alicia accidentally hit the bumper of her car by driving into a tree. She has a car insurance policy with $1000 deductible. The total damage to the car is $500. How much will the car insurance company pay in this scenario?

Covers the damage to your own car if it is hit by another car

Covers the costs of damage to another driver when you cause an accident

Covers your costs if you are hit by a driver that doesn't have insurance or you are the victim of a hit and run

Takes care of damage to your car not caused by a collision (fire damage, stolen vehicle, etc)

This insurance is required by law

Provides income if you have a health condition that keeps you from working

Increase this in order to lower your premium

Which is NOT a way to get a good deal on car insurance as a teen driver?

Which insurance covers you if you're injured and can't work for a period of time?

You can remain on your parents' health insurance plan until you are ____.

What is the payment you make each time you visit the doctor?

_____ protects you if you're the victim of a hit-and-run accident.

Your _____ is the amount you have to pay before insurance pays.

The _____ indicates the most you would pay for health insurance in a year.

Collision Insurance is a type of coverage with _____.

The money you pay each month for health insurance is your _____.

A(n) ____ is someone (typically a child) who relies on your financially.

Insurance companies look at ____ to determine the cost of your premium.

Getting good grades, driving safely, and driving an older car are examples of ways you can . . .

_____ will cover you if someone steals your personal information.

A high-deductible health plan with lower monthly premiums is a good option for ____.

Your ____ has all the information you'd need in case of an accident.

Most insurance companies allow a ____, during which you can pay your premium before you lose your coverage.

Disability insurance isn't intended to make you ____ but to ____ when you need it.

Medicare and Medicaid are examples of _____.

Homeowner's insurance costs are ____ in states that are more susceptible to hurricanes, floods, or tornadoes.

What type of insurance pays for the treatment of injuries and losses to the driver and passengers?

If you're unable to live in your home while it's being repaired, ____ coverage will cover those additional living expenses.

Comprehensive coverage pays for loss or damage to your car caused by ____.

Renter's insurance will cover you and your belongings if there is ever a fire, theft, or vandalism.

Life insurance guarantees your loved ones get a certain amount of money when you ____.

It's wise to have ____ because even if you're a great driver, there are plenty of people who aren't.