________ covers damage to a policyholders vehicle caused by things other than an auto accident.
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Insurance companies
________ usually recommend that homeowners insure their home for 80 percent of its market value.
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Medical payments coverage
________ is also called personal injury protection.
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Rider
A(n) ________ is an addition to a policy that covers specific property or damages.
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Depreciation
________ is the decline in value of an asset, such as a house, equipment, or a vehicle, because of use.
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Business owners
________ can get insurance to cover the costs of damage to or loss of property.
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Homeowners policies
________ do not cover loss from floods, earthquakes, landslides, acts of war, or nuclear hazards.
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Liability insurance
________ protects property owners from the costs of injuries to others on their property.
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Collision insurance
________ covers damage to the policyholders vehicle.
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Financial responsibility law
A(n) ________ requires drivers to pay for any damages or injuries they cause in an accident.
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Vehicle insurance
________ offers seven types of protection:
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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.
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insurance company
A deductible is an amount in damages a policyholder must pay before the ________ pays a claim.
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Liability insurance
________ protects vehicle owners from claims of injury or property damage to others in case they are held responsible for an accident.
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homeowners policy
A(n) ________ covers damage to property and personal property, additional living expenses if a home is destroyed, and liability protection.
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A claim is a request for payment from an insurer for any dam
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Flashcard (85)