insurance/ home/ auto Flashcards

1
Q

4 main types of insurance

A

health, auto, life, property

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2
Q

car insurance (required by law) 3 levels?

A

liability, collision, comprehensive

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3
Q

liability auto insurance?

A

pays for damage done in an accident that was your fault

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4
Q

collision auto insurance?

A

pays for damage done to car in accident regardless of fault

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5
Q

comprehensive car insurance?

A

repairs/ replaces car in situation that is not caused by an accident

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6
Q

premium

A

monthly payment for insurance

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7
Q

deductible

A

the amount of money that the insured person must pay before their insurance pays for benefits

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8
Q

benefit

A

services covered by health insurance

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9
Q

standard auto deductible

A

$500

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10
Q

average auto premium rate for an american

A

$140

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11
Q

average auto premium in utah

A

$125

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12
Q
A
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13
Q

obama care

A

affordable health care act

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14
Q

how long can young adults stay on parents insurance

A

26 yrs

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15
Q

HMO

A

cheapest health insurance

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16
Q

EPO

A

in-between HMO and PPO

17
Q

PPO

A

most expensive health insurance

18
Q

Is a used or new car cheaper to insure

A

Used

19
Q

Where does an auto loan come from

A

dealership

20
Q

What is the usual down payment for an auto loan?

A

10-20%

21
Q

how many months and years is the usual auto loan

A

3-6 years, 60-72 months