Econ Chapter 22

6. Is insurance that covers you and your family member if you are involved in an accident with an uninsured hit-and-run driver
7. A group of people who cannot get motor vehicle insurance who are assigned to each insurance company operating in the state
10. The chance of loss or injury
12. Payment you receive is based on the replacement cost of an item minus depreciation
18. Is the failure to take ordinary or reasonable care to prevent accidents from happening
19. Is insurance that covers physical injuries caused by vehicle accident for which you are responsible
20. Is anything that increases the likelihood of loss through peril

1. Collision insurance Is insurance that covers damage to your vehicle when it is involved with an accident
2. Pays the costs of minor accidental injuries to visitors on your property
3. Is motor vehicle insurance that applies when you damage the property of other
4. Is protection against possible financial loss
5. Is an arrangement whereby drivers who are involved in accidents collect money from their own insurance companies
8. Which is a fee insurance/protection provided by the terms of an insurance policy
9. Method for settling claims where you receive the full cost of repairing or replacing an item
11. Is additional property insurance that covers the damage or loss of a specific
13. Is the set amount that the policy holder must pay per loss on an insurance policy
14. Is legal responsibility for the financial cost of another person's losses or injuries
15. Insurance Is coverage that provides protection for your residence/property
16. The Purchaser of the policy is called a policy holder
17. is anything that may cause a loss