Insurance

What are 5 things an insurance company will look for when setting your rate?

Age, gender, car, grades, marital statues, accident history.

What is a deductible and how does it effect your premium?

Amount of money you pay before you are covered. Higher deductible, lower premium.

What is a premium and how does it effect your deductible?

Amount paid for insurance policy. Higher premium, lower deductible.

What does Uninsured Motorist Insurance cover?

Will pay for your damages if you get in an accident with someone with little or no insurance.

If you have an attractive nuisance, what type of insurance do you need?

You'd need to purchase additional liability insurance.

What is Riders or Floaters? (Renter's Insurance)

Your policy will cover your prized possessions up to certain limits.

When you get Renter's Insurance, what are you looking to protect?

Your possessions.

Where do you get Health Insurance?

Get it from work or buy it yourself.

What is disability insurance?

Gives you a portion of your pay if you can't work.

What is Uninhabitable Insurance? (Renter's Insurance)

If you are forced to flee your home because of damage, it pays for your hotel, and restaurant bills while you are away from home.

Why do you get life insurance?

If you work in a dangerous environment or are sick or something and you don't want the person you live with to be homeless or poor if you die unexpectedly.

What is the lowest amount of liability you can have in Wisconsin?

10/25/50

What do each of the numbers mean in 100/300/50?

100 - thousand per person 300 - total allowance 50 - property damage

What is co-pay?

A copay is a fixed amount you pay for a health care service, usually when you receive the service. The amount can vary by the type of service. You may also have a copay when you get a prescription filled.

What is an attractive nuisance?

A hazardous object or condition of the land that is likely to attract children who are unable to appreciate the risk.

What does Liability Insurance cover?

Covers costs resulting from bodily injury and property damage to others.

What does Medical Insurance cover?

Covers injuries suffered in your car or another persons car. Covers cost of medical bills for you and a passenger, regardless of who is at fault.

Why must you have Health Insurance?

It is a must or you will have to pay a tax penalty.

Compared to other types of insurance, would you say Renter's Insurance is more or less expensive?

Less expensive

What type of insurance is required to drive a car in most states?

Liability Insurance

What does Comprehensive Insurance cover?

Pays for damages to your car cause by theft, vandalism, fire, or from an animal running into your car.

What does Collision Insurance cover?

Pays for damages to your car resulting from a collision with another car or if you run into an object.

What are at least three things business owners need to get insurance for?

Property (equipment and products), liability (lawsuits) and Employment Liability.

What is Liability in Renter's Insurance?

Protect you if someone gets hurt at your place.

What are you looking to protect with homeowners insurance?

Protecting your home and stuff you own.

Which will charge you a higher premium, replacement cost or actual cash value?

Replacement cost

Why should you take photos or videotape your belongings when taking out a renter's insurance policy?

So you can remember all the objects lost and get the right amount of cash back.

What is actual cash value?

What you would pay for a similar item.

What is replacement cost?

What you would pay for the item at today's costs.

What things will affect how much you pay for Renter's Insurance?

Where you live, your deductible, dog, and what you own.