pers finance 10

Kelly and Bob Walton recently purchased a new home and desire coverage for all causes of loss or damage except those specially excluded by the policy. They should obtain the ____________ form of homeowner’s policy. special
Your home insurance policy has a $500 deductible. If a windstorm causes $2,000 damage to your home, what amount of the claim would the insurance company pay? 1500
Which of the following is considered personal property for home insurance coverage? furniture
Possible losses due to negligence resulting in bodily harm or property damage to others are called ____________ risks. liability
Medical payments automobile insurance coverage pays for the costs of injuries to persons in the driver’s vehicle. true
The ____________ coverage of a home insurance policy would cover accidental damage to another person’s property by a member of your family. supplementary
Susan Bize owns a home in Edmond, Oklahoma. She has a coffee maker in the home that has been recalled because it is likely to start fires. The coffee maker is an example of a: hazard
Which one of the following factors is used to determine a person’s driver classification? age
Wearing a seat belt in an automobile to protect yourself against injury is an example of ____________ risk. reducing
Property losses can be categorized into destruction of property, and losses due to robbery, burglary, vandalism, or arson. true
An umbrella policy is designed to cover: major personal liability suits.
Property losses can be categorized into destruction of property, and losses due to: all of these
Which one of the following coverages would pay for medical care for people who were injured in your automobile? medical payments
The 100/300 amounts for bodily injury liability insurance refer to the costs of insurance coverage. false
Which of the following might qualify Amy Farmer for a premium discount on her automobile insurance? All of these might qualify Amy for a discount.
Using a home security system is an example of ____________ risk. reducing
Increased liability insurance is available with: an umbrella policy
Thad Joslin was judged at fault in an automobile accident. Three others were awarded damages of $150,000, $75,000, and $75,000. Thad has 100/300 bodily injury liability coverage. What amount, if any, would not be covered by his insurance? 50000
What type of personal liability coverage is also called a personal catastrophe policy? umbrella policy
Which of the following is not something you should do when you are involved in an automobile accident? Discuss the accident with anyone around, making sure to admit liability if the accident was your fault
The driver classification category is based on automobile style, model, and value of the vehicle. false
The 25 in 50/100/25 refers to ____________ coverage. property damage liability
The most common method of dealing with risk is: risk shifting
While cleaning your home, a worker damages some furniture. You take action against the worker’s employer to cover the cost of the damage. This is an example of a(n) ____________ liability. vicarious
The purpose of an assigned risk pool is to: provide insurance for poor drivers
Which one of the following insurance policy provisions requires the insured to pay for part of the loss if the property is not insured for the specified percentage of replacement value? coinsurance clause
The additional living expenses component of a home insurance policy is designed to: pay for temporary housing while your home is repaired.
Negligence refers to failure to take ordinary and reasonable care.
Henry Edwards was injured in an accident caused by another driver who did not have insurance. Henry’s medical expenses would be covered by: uninsured motorists protection
Peter Jacobs has set aside $5,000 in case he has an accident in his 1980 Honda Civic. He does not have collision insurance on this car. How is Peter managing his risk? assumption

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