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Arkansas Personal Finance Unit 3 Insurance

Collision coverage automobile insurance that protects your own car against damage from accidents or vehicle overturning
Disability insurance an insurance plan that makes regular payments to replace income lost when illness or injury prevents the insured from working
Homeowner's policy insurance that protects property owners from property and liability risks
Insurance a method of spreading individual risk among a large group of people to make losses more affordable for all
Insurer a business that agrees to pay the cost of potential future losses in exchange for regular fee payments
Liability coverage insurance to protect against claims for bodily injury to another person or damage to another person' s property
Life insurance insurance that provides funds to the beneficiaries when the insured dies
Personal risk chances of loss involving income and standard of living
Policy a written insurance contract
Policyholder the person who owns an insurance policy
Property risk the chances of loss or harm to personal or real property
Renter's policy insurance that protects renters from property and liability risks
Risk management an organized strategy for controlling financial loss from pure risks
Tenant the person who rents property from a landlord
Title a legal document that establishes ownership
Vehicle Identification Number (VIN) a unique number that identifies an automobile
Popular Insurance sets




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