1. So, just how well do you know the ins and outs of your own auto insurance policy? To find out, take this simple quiz: Created by USAA insurance

2. If my insured teenager takes my car without permission and runs into my neighbors garage door, what costs am I responsible for? A) Vehicle repair cost B) Deductible C) Garage door repair cost

3. Answer: B If you carry collision and liability coverage, the damage to your car and the garage door both will be covered. But, you still have to pay the deductible. Collision coverage is generally sold with a deductible of $250 to $1,000 – the higher your deductible, the lower the premium. (Collision pays for damage to your car resulting from a collision with another car, object or as a result of flipping over. However, the insurance applies only to the car – it does not cover damage to whatever the car collided with. Even if you (or your child) is at fault for the accident, your collision coverage will reimburse you for the costs of repairing your car, minus the deductible. If you're not at fault, your insurance company may try to recover the amount they paid you from the other drivers insurance company. If they are successful, you'll also be reimbursed for the deductible.)

4. If I hit a deer on the road, what expenses do I incur? A) Deductible B) Vehicle repair cost C) Deer disposal fee

5. If you have comprehensive insurance, then you are only responsible for your deductible. This type of insurance also covers loss due to theft, damage by fire, falling objects, hail, vandalism, and more. Typical comprehensive deductibles range from $100 to $300. (Comprehensive coverage will reimburse you for loss due to theft or damage caused by something other than a collision with another car or object, such as fire, falling objects, missiles, explosion, earthquake, windstorm, hail, flood, vandalism, riot, or contact with animals such as birds or deer. Comprehensive insurance is usually sold with a $100 to $300 deductible, though you may want to opt for a higher deductible as a way of lowering your premium. Comprehensive insurance will also reimburse you if your windshield is cracked or shattered. Some companies offer glass coverage with or without a deductible. States do not require that you purchase collision or comprehensive coverage, but if you have a car loan, your lender may insist you carry it until your loan is paid off.)

6. What kind of coverage would pay my vehicle repair costs if my car is damaged in a hit-and- run accident? A) Gap coverage B) Uninsured motorist coverage C) Property damage coverage

7. Answer: B You can receive full reimbursement if you have uninsured motorist coverage, but this can vary state-by-state. Uninsured motorist coverage protects you, a member of your family, or a designated driver who is hit by an uninsured or hit-and-run driver. (Underinsured motorist coverage comes into play when an at-fault driver has insufficient insurance to pay for your total loss. This coverage also will protect you if you are hit as a pedestrian).

8. If my car is totaled in an accident, am I still responsible for making payments on the balance I owe on the car? A) Yes B) No

9. Answer: No, as long as you purchased gap insurance. This coverage pays the difference between the amount your insurer pays for your totaled car and the amount you owe on your lease or loan. (Since you're responsible for paying the remainder of your lease or loan even when your car is totaled, you might have to come up with hundreds maybe even thousands in cash, unless you have gap insurance, which is about $25 per year.)

10. If Im involved in an accident and the other driver is at fault, will I have to wait to get a rental replacement car? A) Yes B) No

11. Answer: No again, provided that you carry rental car reimbursement insurance. For just a few dollars a month, this coverage guarantees you a rental car while your own car is in the repair shop. If you have this coverage on your own policy, you do not have to wait for the other drivers insurance company to authorize a rental car. (At a couple dollars a month, one full-year of rental car reimbursement coverage is less than the cost of a one-day rental car. Since the average car is in the repair shop for two weeks after an accident, it can cost as much as $1,000 if you have to pay to rent a replacement car. If the collision ultimately is determined to be the other drivers fault, the cost of the rental car can be reimbursed by the other drivers insurance.)

12. Now, the extra credit questions: Are drivers in all states required to carry collision coverage? Comprehensive coverage? Gap coverage? A) Yes for all B) No for all

13. The answer to each of those questions is "no".