Insurance Everfi Module 7 Revised questions and answers

Wearing a seat belt, not texting when driving, and driving carefully are all examples of what? Risk Management Strategies What are risk management strategies you could use to protect your home? Buying a home security system and Installing front porch cameras to monitor your home How is having a security system for you home a risk management strategy? A security system will alert authorities and deter criminals, protecting your valuables and property An insurance premium is... the amount of money you pay monthly/annually for an insurance policy Deductible Amount you must pay before you begin receiving any benefits from your insurance company What will collision insurance cover in the event of an accident damage to your car Liability insurance insurance that will pay for injury to another driver and/or damage to their car if you are in an accident Collision insurance insurance that will pay to get your car fixed in the event of an accident What does liability insurance not cover in the event of an accident? injury to yourself Insurance People purchase this as a form of risk management to protect themselves from losing a lot of money in the event something happens to them or their property Benefits of insurance to prevent a financial burden in the case of an accident, theft, or another event What can insurance protect you from? Theft and Financial Loss What are the advantages of having health insurance? It protects you financially from medical emergencies; lowers your risk of acquiring medical debt, allows some medical procedures to be covered by a low cost co-pay. You should always have health insurance (true or false) True What is a consequence of not having health insurance? you must pay all costs for health care and medical emergencies completely out of pocket What is true about health insurance? Purchasing health care can help save you from medical bankruptcy; can decrease your healthcare costs, If you don't have have it, you pay all costs for healthcare and medical emergencies. Insurance Deductible the amount you owe before insurance will cover the rest of the bill Premium if you get into a car accident, this may increase because you will be considered riskier for insurance companies to cover Collision Insurance insurance that covers damage to your vehicle when it is involved in an accident Risk Management Strategy using strategies to reduce the amount of risk (examples could be wearing reflective clothing while biking at night, wearing a helmet while biking, wearing a seat belt while driving) A deductible is paid by... the policyholder (YOU)