Insurance

Question 1

Risk

Answer 1

Chance of loss or injury

Question 2

Peril

Answer 2

Anything that may possibly cause a loss

Question 3

Hazard

Answer 3

Anything that increases the likelihood of loss through peril

Question 4

Negligence

Answer 4

Failure to take ordinary or reasonable care to prevent accidents from happening

Question 5

Policy

Answer 5

Contract with an insurance coverage
Insured-YOU
Insurer-insurance company

Question 6

Premium

Answer 6

Amount you pay for the insurance coverage

Question 7

Insurable insurance

Answer 7

Your body, your life, your car

Question 8

Insurance

Answer 8

Protection against possible financial loss

Question 9

Claim

Answer 9

Formal method of asking insurance company for money

Question 10

Liability

Answer 10

Legal responsibility for the financial cost of another person’s losses or injuries

Question 11

Rider

Answer 11

Special addition to a policy that covers a specific loss not covered in the standard policy

Question 12

Deductible

Answer 12

Amount you agree to pay before asking insurance company for money