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23 Cards in this Set
- Front
- Back
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Risk |
Chance of loss from some type of danger |
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Risk management |
How you deal w/ the chance of a potential personal or financial loss |
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Dealing with risk management |
1. Avoid the risk 2. Reduce the risk 3. Accept the risk 4. Share the risk |
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Insurance |
Means of guaranteeing your financial protection against various risk |
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Insurance policy |
Writren contract detailing what an insurance company will cover |
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Premium |
Amount you pay for an insurance policy |
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Coverage limit |
Maximun amount the insurance company will pay if you file a claim |
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Personal property inventory |
Listing of all items you own and the cost to replace them |
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Recording personal inventory |
1. Digital inventory 2. Paper/pencil 3. Camcorder |
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General liability |
Covers damage you cause to other peoples property and bodily injuries you cause to people outside of your car |
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Medical payments |
Immediate compensation for bodily injuries expenses to you and your passengers regardless of who is at fault |
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Collision |
Covers repairs for damage you cause to your car caused by an accident l, whether it involves another vehicle or an object such as a tree |
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Comprehensive |
Covers everything expect to your vehicle . |
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Uninsured motorist |
Covers your lost wages and medical expenses if you are in an accident with someone who doesnt have auto insurance |
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Underinsured motorist |
Covers you when the cost of repairs from an accident caused by another driver exceeds his or her insurance policy |
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Applying for auto insurance |
1. S.s 2. Drivers license 3. Personal ibfo 4. Vin 5. Car make model body style 7. Previous claims 6. Speeding tickets7. Previous claims8. Current insurance company 8. Current insurance company |
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Claim form |
Formal document you use to request benefit payments according to the terms of policy |
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Claim adjuster's job |
To investigate a claim and work with you to fix damage |
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Health insurance |
Pays medical bills when you or your family becomes sick or injured |
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Property insurance |
Protects your possessions |
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Life insurance |
Procides financial support for the people who depend on you in the event of your untimely death |
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Liability insurance |
Protects you in case you are legally responsibile for unintentionally injuring someone or damaging anothers property |
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Umbrella policy |
Get additional protection which will protect you in almost all areas of your lofe |
