an example of a risk management strategy is…
both a and c
what is a risk management strategy you could use to protect your home?
a and b
how is having a security system for you home a risk management strategy?
the security system will alert authorities and deter criminals, protecting your valuables and property
an insurance premium is…
the amount of money you pay for an insurance policy
when filing an insurance claim, the policyholder must pay a _, which is the amount you owe before insurance will cover the rest of the bill
deductible
what will collision insurance cover in the event of an accident
damage to your car
liability insurance is…
insurance that will pay for injury to another driver and/or damage to their car if you are in an accident
collision insurance is…
insurance that will pay to get your car fixed in the event of an accident
what does liability insurance not cover in the event of an accident?
injury to yourself
what do people purchase as a form of risk management to protect themselves from losing a lot of money in the event something happens to them or their property
insurance
why should you purchase insurance?
to prevent a financial burden in the case of an accident, theft, or another event
why is it important to have insurance?
a and b
what can insurance protect you from?
a and c
which of the following is not an advtange of having health insurance?
people with health insurance can skip lines in emergency rooms
when is it ok not to have health insurance?
you should always have health insurance
what is a consequence of not having health insurance?
you must pay all costs for health care and medical emergencies
something people buy to protect themselves from losing a lot of money in the event something happens to them or their property is known as…
insurance
all of the following are true about health insurance except:
being young and healthy means you can skip out on health insurance
an insurance deductible is…
the amount you owe before insurance will cover the rest of the bill
if you get into a car accident, your __ may increase because you will be considered riskier for insurance companies to covee
insurance premium
insurance that covers damage to your car from an accident is called…
collision insurance
which is not an example of a risk management strategy?
buying a new car
a deductible is paid by…
the policyholder
how can insurance protect you from financial loss?
insurance can cover you or your property in case of an accident, theft, or another unpredictable event
choose the statement that is true about health insurance
you should always have health insurance, regardless of your circumstances
which of the following is a reason someone should get health insurance?
health insurance protects you financially from medical emergencies
buying a home security system is an example of protecting your home against _
risk
insurance that will pay for injury to another driver and/or damage to their car if you are in an accident is called…
liability insurance
wearing a seat belt, not texting when driving, and driving carefully are all examples of…
risk management strategies
Wearing a seat belt, not texting when driving, and driving carefully are all examples of what?
Risk Management Strategies
What are risk management strategies you could use to protect your home?
Buying a home security system and
Installing front porch cameras to monitor your home
How is having a security system for you home a risk management strategy?
A security system will alert authorities and deter criminals, protecting your valuables and property
An insurance premium is…
the amount of money you pay monthly/annually for an insurance policy
Deductible
Amount you must pay before you begin receiving any benefits from your insurance company
What will collision insurance cover in the event of an accident
damage to your car
Liability insurance
insurance that will pay for injury to another driver and/or damage to their car if you are in an accident
Collision insurance
insurance that will pay to get your car fixed in the event of an accident
What does liability insurance not cover in the event of an accident?
injury to yourself
Insurance
People purchase this as a form of risk management to protect themselves from losing a lot of money in the event something happens to them or their property
Benefits of insurance
to prevent a financial burden in the case of an accident, theft, or another event
What can insurance protect you from?
Theft and Financial Loss
What are the advantages of having health insurance?
It protects you financially from medical emergencies; lowers your risk of acquiring medical debt, allows some medical procedures to be covered by a low cost co-pay.
You should always have health insurance (true or false)
True
What is a consequence of not having health insurance?
you must pay all costs for health care and medical emergencies completely out of pocket
What is true about health insurance?
Purchasing health care can help save you from medical bankruptcy; can decrease your healthcare costs, If you don’t have have it, you pay all costs for healthcare and medical emergencies.
Insurance Deductible
the amount you owe before insurance will cover the rest of the bill
Premium
if you get into a car accident, this may increase because you will be considered riskier for insurance companies to cover
Collision Insurance
insurance that covers damage to your vehicle when it is involved in an accident
Risk Management Strategy
using strategies to reduce the amount of risk (examples could be wearing reflective clothing while biking at night, wearing a helmet while biking, wearing a seat belt while driving)
A deductible is paid by…
the policyholder (YOU)
Buying a home security system is an example of protecting your home against _
risk