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Insurance Flashcards | StudBud
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Insurance
Insurance
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Questions
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1
If you get into a car accident, your ___ may increase because you will be considered riskier for insurance companies
insurance premium
claims adjustment
car loan payment
taxes
2
What is a consequence of not having health insurance?
you will get a lower standard of care from doctors
you must pay all costs for health care and medical emergencies
you're not allowed to go to a hospital
you can only see doctors in your home state
3
How can insurance protect you from financial loss?
can offer warranties on household items
can offer easy monthly payment options for premium
can cover you or your property in case of a accident or unpredictable event
can offer low co-insurance policies
4
What will collision insurance cover in the event of an accident?
bodily injuries
damage to someone else's car
damage to someone else's property
damage to your car
5
An insurance premium is paid by...
the insurance company
the policyholder
the government
the claim adjuster
6
What does liability insurance not cover in the event of an accident?
damage to another driver's car
injury to another person
injury to yourself
bodily injuries
7
What can insurance protect you from?
debt
contract fees
all of the above
theft and financial loss
8
Buying insurance, wearing a seat belt, and not texting when driving are all examples of...
risk management strategies
deductibles
warranties
insurace polices
9
Why should you purchase insurance?
To prevent financial burden in the case of an accident, theft, ect.
To avoid commiting a crime
To purchase monthly premiums
To get a warranty on a household item
10
A deductible is paid by...
the policyholder
the insurance company
the claims adjuster
the government
11
An insurance deductible is....
the contract fee applied to the monthly premium
the monthly premium on an insurance policy
the amount you owe before insurance will cover the rest of the bill
a commission paid to the agency for the purchase of a policy
12
Which is not an example of a risk management strategy?
wearing a helmet while biking
wearing reflective clothing while biking at night
wearing a seat belt while driving
buying a new car
13
Something people buy to protect themselves losing lots of money in the event something happens to them or their property
liability
insurance
warranty
liability
14
Insurance that will pay to get your car fixed in the event of an accident
comprehensive insurance
collision insurance
uninsured motors
liability insurance
15
The primary function of insurance companies is to ?
generate fees for the banks that sell insurance products
protect policyholders from adverse events
sell a variety of consumer investment products
assist in
16
Which of the following is a reason someone should get health insurance?
health insurance protects you financially from medical emergencies
health insurance allows all medical procedures to be covered for free
health insurance can get faster access to medical care at emergency rooms
most health insurance policies also covers non medical procedures
17
When filling an insurance claim, the policyholder must pay a ____. the amount you owe before insurance
contract fee
commission
deductible
premium
18
What is uninsured motorist insurance?
pays for the damages you have done to another person
covers damage to your car that is not from an accident, ex. falling tree
cover the repair to your car if you get into an accident
policy pay for repairs in the case that the crasher don't have insurance
