Insurance Quiz

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Insurance companies automatically pay for a rental car if you need one while your vehicle is being repaired.

False

Only workers in jobs involving physical labor need disability insurance.

False

When you belong to a Health Maintenance Organization (HMO) you are free to choose any doctor you wish.

False

A floater is a form of insurance that covers specific items wherever you take them.

True

A preexisting condition is an illness or injury a person has before signing up for a health care plan.

True

An umbrella liability insurance policy pays claims when you reach your limit on other liability insurance coverage.

True

Auto insurance coverage provides three basic kins of coverage.

True

Auto insurance premiums are higher for young single males than for most other drivers.

True

Exclusions are the services that are not covered in an insurance plan.

True

Homeowner's insurance generally provides liability and property protection.

True

Inflation guard automatically adjusts limits when you renew to reflect current construction costs.

True

Retired workers usually do not pay a monthly premium for Medicare Part A insurance.

True

The main purpose of life insurance is to protect dependents from loss of income and other expenses after the death of the insured person.

True

Your coverage will lapse if you are unable to pay the premiums on a term life insurance policy.

True

Insurance you may want to drop as a car gets older is ____.

collision

Bodily injury liability auto insurance coverage pays for ____.

damages and legal fees when the policyholder is responsible for an auto accident that results in the injury or death of others

The amount policyholders are required to pay before insurance pays for any services is the ____________.

deductible

No-fault auto insurance means ____.

each policyholder's insurance pays a portion of the damages, regardless of fault

The type and amount of auto insurance coverage a car owner buys is ____.

governed in part by state laws

The amount of money paid to an insurance company on a regular basis for a policy is the __________.

premium

When buying life insurance, it is smart to ____.

shop until you find the type and amount of coverage you need with the options you find important

The deductible on a health insurance claim is the amount ____.

the patient must pay before the insurer makes any payments

Life insurance that provides the policyholder with basic lifetime protection so long as premiums are paid is known as ________ insurance.

whole

Adequate life insurance protection is important for those ____.

with spouse, children, or others who depend on their incomes

The liability section in your homeowner's policy covers all of the following except ____.

your home


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