Studied by 2 people
Comprehensive insurance
________ covers damage to a policyholders vehicle caused by things other than an auto accident.
Insurance companies
________ usually recommend that homeowners insure their home for 80 percent of its market value.
Medical payments coverage
________ is also called personal injury protection.
Rider
A(n) ________ is an addition to a policy that covers specific property or damages.
Depreciation
________ is the decline in value of an asset, such as a house, equipment, or a vehicle, because of use.
Business owners
________ can get insurance to cover the costs of damage to or loss of property.
Homeowners policies
________ do not cover loss from floods, earthquakes, landslides, acts of war, or nuclear hazards.
Liability insurance
________ protects property owners from the costs of injuries to others on their property.
Collision insurance
________ covers damage to the policyholders vehicle.
Financial responsibility law
A(n) ________ requires drivers to pay for any damages or injuries they cause in an accident.
Vehicle insurance
________ offers seven types of protection:
actual cash value
The maximum amount covered is based on the ________ of the policyholders vehicle, which is the value of the automobile when it was new minus depreciation.
insurance company
A deductible is an amount in damages a policyholder must pay before the ________ pays a claim.
Liability insurance
________ protects vehicle owners from claims of injury or property damage to others in case they are held responsible for an accident.
homeowners policy
A(n) ________ covers damage to property and personal property, additional living expenses if a home is destroyed, and liability protection.
A claim is a request for payment from an insurer for any dam
ages covered by a policy
