1. Insurance

2. What is Insurance? Way to ensure you are protected from financial loss
When something bad happens, your insurance will cover some or all of the costs to fix the damage, depending on your policy

3. You can get insurance for your business, your apartment/house, pet, jewelry
Most common lines of insurance are auto, home, life, and health

4. What is a Policy?
A policy is a contract between you and your insurance company
You promise to pay the insurance company a premium and the insurance company promises to pay your claims as they arise

5. What is a Premium?
A premium is the amount of money you pay every month (or other set time period) for your insurance coverage
The insurance company takes many factors into account before it offers you coverage
Insurance company determines your premium by deciding what type of risk you (or the thing you are insuring) are

6. Who Says I’m a Risk? A risk is the possibility of financial loss
Depending on the line of insurance, the insurance company will look at many factors to determine what kind of risk you are (high, medium, low)
Everyone is some level of risk

7. Auto Insurance
Examples of factors an insurance company will consider before offering coverage:
Make/model of your vehicle
Vehicle’s age and mileage
Your age
Your driving record (if you don’t have one you are considered a greater risk)
How you use your car
Where you keep your car at night

8. You must have auto. liability insurance Liability: obligation
You must have auto liability insurance Liability: obligation If you are in an accident, liability insurance will pay for injured parties and properties Liability insurance will NOT cover your injuries

9. Will have to show proof of current insurance when you:
Auto Insurance is
mandatory
Will have to show proof of current insurance when you:
Get pulled over by the police
Get your car inspected
Renew your driver’s license
Apply for or renew the registration for your car

10. Game for auto insurance
edu-game/

11. Auto Insurance Video
insurance-coverage.aspx

12. Claims, Adjusters, and Deductibles
A claim is a demand by a person seeking recovery from a loss
When you file a claim with your insurance company, a claims adjuster will investigate your claim
The amount of money you will receive from your insurance company depends on your policy
You cannot receive more than your policy allows

13. You must pay the deductible, if applicable
A deductible is the amount you must pay yourself before the insurance company pays

14. Life Insurance
Life insurance helps make sure a family has enough money if a primary wage earner dies
It is important to have life insurance if you have family members or other people who depend on you for money
When you buy life insurance, you decide who your beneficiaries will be
Beneficiaries: The people who will receive the insurance money if the person covered by the policy dies

15. Homeowners Insurance
When you buy a house, keep in mind that insurance is an expense in buying that house
Your lender will require that you have homeowners insurance

16. Homeowners insurance also covers your personal property, such as furniture and clothing, and will pay for injuries to other people that occur at your house
Amount of coverage depends on your policy, so make sure to buy the coverage you want and need!

17. If you rent instead of own your home, you will have to get renters insurance
Renters insurance covers your personal property if your rented home/apartment is damaged or if your property is stolen
consumers/renters-edu-game/

18. Homeowners Insurance Videos