20 Questions
Which group of people is most likely to get sued and therefore may benefit from an umbrella liability policy?
Families with higher net worth
What should you consider when shopping for home and vehicle insurance?
Premium differences between carriers
Why is it important to assess your coverage needs every few years?
To ensure you have enough liability protection
Which coverage protects you if you're found responsible for others' injuries on your property or away from home?
Liability coverage
What is the purpose of a deductible in home insurance?
To be paid before insurance coverage kicks in
What is the purpose of the co-insurance clause in home insurance?
To penalize the insured's loss recovery if the limit purchased is not sufficient
Which part of home insurance covers injury treatment costs for guests who get hurt on your property or individuals you accidentally injure while away from home?
Part F - Medical Coverage
What does personal liability coverage in home insurance pay for?
Legal settlements and repairs for damage caused to someone else's person or property
What is the purpose of renters insurance?
To cover personal property only
What does collision coverage in auto insurance pay for?
Any damage to your car resulting from a collision with another car or object
Which of the following is NOT a standard coverage in home insurance?
Personal property coverage
What is the purpose of the co-insurance clause in home insurance?
To penalize the insured's loss recovery if the purchased limit is not sufficient
What is the purpose of an insurable interest in home insurance?
To ensure that a person would suffer a loss if the insured property is damaged
Which of the following is NOT a factor that can affect the premium for home and vehicle insurance?
Driving record/history
What is the purpose of an umbrella liability policy?
To protect against lawsuits for higher net worth individuals
Why is it important to have sufficient liability protection in home and vehicle insurance?
To protect against potential lawsuits
Which part of home insurance covers damages caused by theft or something other than a collision?
Part C - Personal Property
What does the term 'Liability' mean in the context of vehicle insurance?
You caused damage to someone else's person or property. Pays medical bills, legal settlements, and repairs
What is the purpose of Medical Payments or Personal Injury Protection (PIP) coverage in auto insurance?
Pays medical treatment of policyholder and passengers, regardless of fault
What is the purpose of an umbrella liability policy in vehicle insurance?
Covers liability over home/auto insurance limits
Test your knowledge of home insurance terms, including coverage limits, deductibles, insurable interest, and co-insurance clauses. Learn the key concepts that determine how much protection your policy provides for your property.
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