Insurance Review

Front

What are some ways to reduce the cost of your insurance premium?

Back

Good grades, Number of miles you drive, Where you live - All answers are correct.

Front

What does a standard renters insurance policy cover?

Back

It covers personal property like a small TV and sneakers, but does NOT cover damage to the building itself, such as a new window when a baseball breaks the original one.

Front

What is liability insurance?

Back

Liability insurance is the minimum required by law, covering only repairs to the vehicle you hit, not your own.

Front

What is considered an 'out-of-pocket' expense in insurance?

Back

Out-of-pocket expenses include copays, deductibles, and excess bills, but NOT your monthly premium.

Front

What happens to auto insurance premiums if you have multiple accidents in a year?

Back

Your premium amount will increase.

Front

What is a deductible in insurance?

Back

A deductible is the amount you pay out of pocket before your insurance coverage kicks in.

Front

What is comprehensive insurance?

Back

Comprehensive insurance covers damage to your vehicle not involving a collision, such as theft or natural disasters.

Front

What is collision insurance?

Back

Collision insurance covers damage to your vehicle resulting from a collision with another vehicle or object.

Front

What is renters insurance?

Back

Renters insurance protects personal property within a rented residence and provides liability coverage.

Front

What is the purpose of insurance?

Back

The purpose of insurance is to provide financial protection against potential future losses.