insurance/ home/ auto Flashcards
4 main types of insurance
health, auto, life, property
car insurance (required by law) 3 levels?
liability, collision, comprehensive
liability auto insurance?
pays for damage done in an accident that was your fault
collision auto insurance?
pays for damage done to car in accident regardless of fault
comprehensive car insurance?
repairs/ replaces car in situation that is not caused by an accident
premium
monthly payment for insurance
deductible
the amount of money that the insured person must pay before their insurance pays for benefits
benefit
services covered by health insurance
standard auto deductible
$500
average auto premium rate for an american
$140
average auto premium in utah
$125
obama care
affordable health care act
how long can young adults stay on parents insurance
26 yrs
HMO
cheapest health insurance
EPO
in-between HMO and PPO
PPO
most expensive health insurance
Is a used or new car cheaper to insure
Used
Where does an auto loan come from
dealership
What is the usual down payment for an auto loan?
10-20%
how many months and years is the usual auto loan
3-6 years, 60-72 months