Basic Insurance

3. a formal request by a policyholder to an insurance company for coverage for a covered loss of event by having the insurance company validate and approve of the claim and issues payment to the insured interested party on behalf of the insured
6. aunty act that intentionally deceives an insurance company to receive an unearned payout or benefit
8. Provides support if your vehicle breaks down
10. the maximum amount an insurance company will pay for a specific claim or loss that is agreed in the policy
12. Covers bodily injury and property damage to others if you’re at fault in an accident. ($453)
13. Provides access to dental programs or other dental costs

1. Helps pay for medical costs after an accident, regardless of who was at fault. ($120)
2. applies probability, analysis, and statistics to define, analyze, and solve the financial impacts of uncertain future events
4. initial cost of an insurance policy that covers the basic level of protection or coverage for the insured party
5. the process of evaluating and assessing the risks associated with insuring a person/property, determining whether the insurance company will offer coverage, and if so, at what price
7. the amount of money that the insured person must pay before their insurance policy starts paying for covered expenses
9. a policy provision that specifies situations, conditions, or circumstances where the insurance company will not provide coverage for a loss or damage
11. the person who owns the insurance policy and is responsible for paying premiums and managing the policy