Exam 8: Home and Automobile Insurance

If you need information to compare Acme Home Insurance and Zebra Home Insurance, you should contact the state insurance commissioner or a consumer organization that deals with insurance.

An insurance claim is a request for payment to cover financial losses.

Which of the following should reduce your auto insurance premium?

Once a risk management plan is put into action, it should remain the same even as family needs change.

A policy that supplements your basic personal liability coverage is called a(n)

Every state in the United States has a law requiring people to carry motor vehicle insurance.

One way to keep auto insurance rates down is to insure each vehicle you own with a different insurer.

Risk management is an organized plan for protecting yourself, your family, and your property.

An example of a peril is defective wiring.

Insurance that covers valuable items, such as an expensive musical instrument, is called

The main goal when setting insurance goals is to

Consumer organizations, such as Consumer Reports, rate insurance companies on a regular basis.

Samantha was driving on the highway during a storm and hail dented her car. This damage would be covered under her

If you choose to take responsibility for the negative results of a risk, you are using

Which of the following is NOT one of the commonly used general risk management techniques?

Deductibles are a combination of risk assumption and risk shifting where the insured person pays the first part of the claim (deductible) and the rest of the claim is shifted to the insurance company.

Yogi is applying for insurance for his new home. Which of the following is correct?

Motor vehicle crashes cost over ______ in lost wages and medical bills every year.

Vincent is applying for insurance for his new home. Which of the following is correct?

Personal property insurance covers