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Insurance
Arkansas Personal Finance Unit 3 Insurance
| Question | Answer |
|---|---|
| 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 |
Created by:
cherylhopkinsdavis
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