auto insurance

Question 1

protection against possible financial loss

Answer 1

insurance

Question 2

contract between an insurance company and a person by which that person joins a risk sharing group

Answer 2

policy

Question 3

price for insurance

Answer 3

premium

Question 4

chance of loss or injury

Answer 4

risk

Question 5

anything that may possibly cause a loss

Answer 5

peril

Question 6

anything that increases the likelihood of loss through peril

Answer 6

hazard

Question 7

lack of attention

Answer 7

negligence

Question 8

set amount that the policy holder must pay per loss on an insurance policy

Answer 8

deductibles

Question 9

legally responsible for the financial cost of another persons losses or injuries

Answer 9

liability

Question 10

coverage that provides protections for a residence and its associated financial risk such as property damage and its injuries to others

Answer 10

homeowners insurance

Question 11

additional property insurance that covers the damage or loss of a specific item of high value

Answer 11

personal property floater

Question 12

coverage that pays the cost of minor accidental injuries to visitors of the policyholders property

Answer 12

medical payments coverage

Question 13

method for settling claims in which the payment received is based on the replacement cost of an item

Answer 13

actual cash value

Question 14

method for settling claims in which one receives the full cost of repairing and replacing an item

Answer 14

replacement value

Question 15

insurance that covers physical injuries caused by a vehicle accident for which your responsible

Answer 15

bodily injuries liability

Question 16

insurance that covers you and your family members if you are uninvolved in an accident with an uninsured or hit an run driver

Answer 16

uninsured motorists protection

Question 17

motor vehicle insurance that applies when you damage the property of others.

Answer 17

property damage liability

Question 18

insurance that covers damage to your vehicle when involved in an accident

Answer 18

collision

Question 19

arrangement whereby drivers who are involved in accidents collect money from their own insurance companies

Answer 19

no fault system

Question 20

group of people who cannot get motor vehicle insurance who are assigned to each insurance companies operating in the state

Answer 20

assigned risk pool