What is a Premium? The amount of money charged by the Insurance companies for active coverage.

Slides:

Advertisements

Similar presentations

Unit 11 Insurance North Carolina Driver and Traffic Safety Education Association 1 INSURANCE UNIT 11.

Advertisements

Automobile Insurance Managing the Risk G1 © Family Economics & Financial Education – Revised February 2009– Transportation Unit – Automobile Insurance.

G1 © Family Economics & Financial Education – Revised February 2009– Transportation Unit – Automobile Insurance Funded by a grant from Take Charge.

Are You Ready to Drive? Ask yourself…Ask yourself… –Do I have a license? –Is my car registered? –Am I covered by auto insurance?

Auto Insurance. Insurance Basics Insurance is a way of planning for the unknown Why do we need auto insurance? Accidents can be VERY expensive.

Auto Claims The at fault driver of a vehicle that damages other property or injures other people is liable for the cost of repairs. North Carolina financial.

Activity Risky Business. Automobile Insurance Today’s Learning Objective How does auto insurance work? Automobile Liability No-Fault Collision Other-than-Collision.

Collisions and Insurance. Stop immediately Assist the injured Control the scene Notify the police Exchange information Duties If Involved in a Crash Notify.

Auto Insurance. Why It’s Needed Accidents are expensive Car theft is common It’s required by law (in most states)

Chapter 33 Vehicle Insurance pp Introduction to Business, Chapter 33 Slide 2 of 60 Why It’s Important Most states require you to have some form.

Personal Finance FIN 235. LEARNING OBJECTIVES A. What is insurance? B. Why do we need insurance? C. What is the risk management process? D. How does insurance.

COSTS OF BUYING A CAR PART 2 Because cars still cost money.

Homeowners and Auto Insurance

Vehicle Insurance Chapter 33. Types of Vehicle InsuranceLaws on Vehicle InsuranceThe Costs of Insurance Basics Bodily Injury Liability Property Damage.

Managing Your Personal Finance UNIT 2: GETTING YOUR FIRST CAR Topic: CAR INSURANCE.

Auto Insurance Mrs. Bruzan. Liability Insurance -Minimum Limits in Illinois Who and what is covered? The other driver and his car Is it required by the.

Auto and Home Insurance Click to add subtitle. Objective Given instruction, the learner will explore the functions and benefits of different types of.

Stock Market Analysis and Personal Finance Mr. Bernstein Motor Vehicle Insurance, pp June 8, 2015.

Why is NJ insurance premiums the highest in the nation? Population, high car density, labor costs, lawsuits, car theft.

Angelica Luna.  Insured ◦ This is any one who is included under the P.A.P and is covered by the insurance company.  Insurer: ◦ The Insurance Company.

Insurance Is protection for individuals against possible financial losses Provides protection against many risks such as unexpected property loss, illness.

Auto Insurance.

Insurance Are you ready for an accident? Senior Advisory – May 4, 2015.

Chapter 11 Insurance. Concept of Insurance $500/year homeowner’s policy will pay $1000 house or $500,000 lawsuit –Relatively small amount compared to.

Managing Your Personal Finance UNIT 3:3 GETTING YOR FIRST CAR Topic: CAR INSURANCE.

Do Now 1.List 5 risks that a typical person faces everyday. 2.List 3 kinds of insurance you have heard of.

© 2005 Consumer Jungle Insuring a New or Used Car.

Automobile Insurance Managing the Risk G1 © Family Economics & Financial Education – Revised November 2004 – Transportation Unit – Automobile.

Automobile Insurance Managing the Risk G1 © Family Economics & Financial Education – Revised November 2004 – Transportation Unit – Automobile.

Chapter 17/13.5 Buying and Owning a Vehicle and Insurance.

Car Insurance Terms to know: Terms to know: Financial Responsibility Laws Financial Responsibility Laws Premium Premium Deductible Deductible.

VEHICLE INSURANCE. Why It’s Important Most states require you to have some form of vehicle insurance. To get the best value, you need to know the choices.

Chapter 38 Vehicle Insurance.

Vehicle Insurance Section 9-4. Who or What is Protected? / You / Your vehicle / Another person / Another’s property / You / Your vehicle / Another person.

Insurance Take Charge of Your Finances G1.

5.4 AUTO INSURANCE. Insurance is a contract between the driver and insurance company.  Liable: responsible.  Claim: a request for money  Premium: the.

What is covered by a basic auto policy?. 1. Bodily Injury Liability This coverage applies to injuries that you, the designated driver or policyholder,

Chapter 16. Buying/Owning a Vehicle What are some questions you should ask yourself before buying a vehicle? What type is best for me? Operating expenses?

Auto Insurance Information Mr. Blais Law and You.

Car Insurance. Premium and Deductable Premium is your monthly/semiannual/yearly fixed payment Deductable is the amount you pay out of pocket when filing.

Jessica, Shelby, Brittany & Allie. Bodily Injury Liability Coverage- protects you against financial loss when you are responsible for injuring other people.

Objective Interpret the nature, theory, and different types of insurance Automobile Insurance AUTOMOBILE INSURANCE.

So here you are… It’s a beautiful sunshine-filled day…. You’re driving along….

Looking at Insurance: Auto and Home Chapter 9. *Risk Factors – Auto Insurance costs Rating Territory Driver Classification Age Gender Marital status Driving.

V EHICLE I NSURANCE Chapter 14, A BOUT THE R ISKS  All states have a financial responsibility law. This means you will be held responsible for.

INSURANCE Reimbursement for personal or financial loss.

Gettin’ a Car What does it cost? How do I get it?.

Seminar: Timely Topics for Today’s Business World Mr. Bernstein Motor Vehicle Insurance January 21-22, 2015.

Managing the Risk G1 © Family Economics & Financial Education – Revised February 2009– Transportation Unit – Automobile Insurance – Slide 2 Funded.

Liability coverage – covers liability and expenses when you’re at fault in an accident Bodily Injury Liability (BIL) – pays for the medical expenses of.

Insurance Final Question Final Question DiscountsPolicyCoverageBasics

Liability insurance - Financial protection against accidents that cause bodily injury and property damage. comprehensive insurance - Insurance protection.

Chapter 16 Part III Motor Vehicle Insurance. Financial Responsibility Anyone who owns or drives a vehicle should have protection against personal injury.

Insurance 101 Personal Finance. Learning Goal To be able to define terms relating to insurance.

Insurance Automobile and Health. What is insurance?  Insurance – Manage your risk of financial loss from illness, injury or damage.  Premium – Regular,

Insurance: Your Protection Financial Literacy Mrs. Dayley.

Unit 8: INSURANCE. 1. According to the Unit 8 reading: Risk is defined as ….. Chance of loss from some type of danger.

Automobile Insurance: The Basics. What is the likelihood you will be in an automobile accident? What is the likelihood you will be in an automobile accident?

Chapter © 2010 South-Western, Cengage Learning Property and Liability Insurance Property Insurance Automobile and Umbrella Insurance.

Risk Management and Insurance: Auto Insurance. Auto Insurance Required by law in New Jersey.

Insurance 101 “Risk Management” Insurance Risk Management Protection against Financial Loss.

WHY BUY IT?? VEHICLE INSURANCE. Why It’s Important Most states require you to have some form of vehicle insurance. To get the best value, you need to.

Click here to advance to the next slide.

Automobile Insurance Managing the Risk.

* Take Charge of Your Finances G1

Automobile Insurance Managing the Risk.

Automobile Insurance Managing the Risk.

Automobile Insurance Managing the Risk.

Presentation transcript:

What is a Premium? The amount of money charged by the Insurance companies for active coverage.

What are your Premiums Based on? There are several factors Age Marital Status Where you live Gender Type of car you drive Driving Record- accidents/tickets

Comprehensive Physical Damage Coverage Loss or damage to your own vehicle due to non- collision causes such as theft, vandalism, fire and hail.

Medical Payments Coverage or Personal Injury Projection: Injury to you or your passengers due to a traffic accident.

Uninsured/Underinsured Motorists Coverage Injury or damage to you, your passengers, or your vehicle caused by a driver without adequate insurance.

Additional Coverage Emergency Road Service- Towing Rental Car

The higher the deductible, the lower the premium Deductible: The amount of expense that you have to pay out of pocket before the insurance company will pay for any damages to your car.