Chapter 22 Vocab

2. Value The full cost of repairing an item.
5. system An arrangement where drivers collect money from their own insurance companies.
8. Evaluated endorsement
9. Anything that may possibly cause a loss.
10. motorists protection Insurance that covers you and your family members if you are involved in a accident with a uninsured hit and run driver.
11. type of contract
14. fee for insurance
17. Insurance that covers damage to your vehicle when it is involved in a accident.
20. The failure to take responsible care.
21. against potential financial loss
22. Risk pool A group of people who cannot get motor vehicle insurance who are assigned to each insurance company in the state.

1. A hazard is anything that increases the likelihood of loss through peril.
3. damage liability Motor vehicle insurance that applies when you damage the property of others.
4. injury liability Insurance that covers physical injuries.
6. Legal responsibility for the financial cost of another persons losses or injuries.
7. Property floater Additional property insurance that covers the damage or loss of a specific item of high value.
12. cash value The replacement cost of a item minus depreciation.
13. Insurance Coverage that provides protection for your residence.
15. The chance of loss or injury.
16. Take upon yourself.
18. Deliberate destruction of public property.
19. Payments coverage Pays the cost of minor accidental injuries to vistors on your property.