automobile insurance Complete Questions and Correct Detailed Answers (Verified Answers)

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automobile insurance Complete Questions and
Correct Detailed Answers (Verified Answers)
Question: risk


Ans: the uncertainty about a situation's outcome



Question: who is the arrangement for automobile insurance between?


Ans: consumer and the insurer



Question: what type of contract specifies the terms of insurance


Ans: a policy



Question: policy


Ans: a contract between the individual and the insurer specifying the terms of
the insurance arrangements



Question: what are the two fees found in a automobile insurance

policy?


Ans: premium and deductible



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Question: premium


Ans: the fee paid to the insurer to be covered under specified terms.



Question: deductible


Ans: the amount paid by the policy holder for the initial portion of a loss
before the insurance coverage begins



Question: what is one purpose of auto insurance?


Ans: to help individuals limit their financial loss when and automobile
accident occurs



Question: liability insurance


Ans: covers the insured if injuries or damages caused to OTHER people or
their property



Question: what are two types of liability insurance which occur for

owning and operating a vehicle?


Ans: bodily injury and property damage



Question: bodily injury
Master01 | 2025/2026 | Latest update