A.) $12.48
B.) $149.75
C.) $275.75
D.) $31.31
Get the Correct ANSWER
ANSWER: $12.48
Julien was involved in an accident in which he merged into another car, damaging the front fender of the other car. Julien is fully insured through his insurance company. Which component of Julien's insurance plan will cover the damage he caused to the other car?
A.) property damage
B.) collision
C.) bodily injury
D.) comprehensive damage
Get the Correct ANSWER
ANSWER: property damage
Tina was involved in an accident in which she rear-ended another driver stopped at a stoplight. Tina is fully insured through her insurance company. Which of the following components of her insurance policy will cover the damages caused to Tina's car in the accident?
A.) property damage
B.) bodily injury
C.) collision
D.) comprehensive damage
Get the Correct ANSWER
ANSWER: collision
Susie is thinking about changing her auto insurance policy at Fret-No-More Auto Insurance. Her current policy includes the following options: $50/100,000 limit for bodily injury, $25,000 limit for property damage, $250 deductible for collision, and $50 deductible for comprehensive. Which of the following changes would increase Susie’s limits the most without increasing her monthly premium by more than $5.00?
A.) Increase coverage on bodily injury to $100/300,000 and on property damage to $50,000.
B.) Increase coverage on bodily injury to $100/300,000 and on property damage to $100,000.
C.) Increase coverage on bodily injury to $100/300,000.
D.) Increase coverage on property damage to $50,000.
Get the Correct ANSWER
ANSWER: Increase coverage on bodily injury to $100/300,000 and on property damage to $50,000.
Ned's truck was caught in a hailstorm that left his truck body damaged and his paint job ruined. Ned is fully insured through his insurance company. Which of the following components of Ned's insurance policy will take care of the damage done to Ned's truck during the hailstorm?
A.) property damage
B.) bodily injury
C.) collision
D.) comprehensive damage
Get the Correct ANSWER
ANSWER: comprehensive damage
Tracy was involved in an accident in which the other driver suffered severe injuries. The police determined that the accident was Tracy's fault. Tracy is fully insured through her insurance company. Which of the following components of Tracy's insurance policy will cover the injuries of the other driver?
A.) property damage
B.) collision
C.) bodily injury
D.) comprehensive damage
Get the Correct ANSWER
ANSWER: bodily injury
Tom is considering making changes to his policy to make insurance more affordable. Which of the following statements is not something Tom should consider when making changes to his policy?
A.) Increasing the limits on his bodily injury insurance will reduce his overall expense by putting greater limits on how much the insurance company will pay for injuries.
B.) Increasing the deductible on collision insurance will reduce his overall monthly and annual expense, but will lead to more out-of-pocket expense if he is in a collision.
C.) Removing comprehensive insurance will reduce his overall expense, but will leave Tom entirely responsible for the cost of a new windshield if he hits a rock on the highway.
D.) Removing property damage insurance will reduce his overall expense, but will leave Tom responsible for the cost of repairs to any other cars involved with Tom in a collision.
Get the Correct ANSWER
ANSWER: Increasing the limits on his bodily injury insurance will reduce his overall expense by putting greater limits on how much the insurance company will pay for injuries.
Check out Auto Insurance Quiz 1
Jerry is currently insured through AA Auto Insurance, but would like to lower his auto insurance premium by at least $10 per month. His current insurance plan includes the $50/100,000 limit for bodily injury, $100,000 limit for property damage, a $250 deductible for collision, and a $50 deductible for comprehensive. Which of the following adjustments would allow Jerry to meet his goal?
A.) Reduce bodily injury limits to $25/50,000.
B.) Increase collision deductible to $500.
C.) Increase comprehensive deductible to $100.
D.) Reduce property damage to $25,000.
Get the Correct ANSWER
ANSWER: Increase collision deductible to $500.
While driving recklessly, Thomas lost control of his car and accidentally drove it into the water fountain in his neighbor's front yard. Thomas is fully insured through his insurance company. Which of the following components of his insurance policy will cover the damage he caused to his neighbors fountain?
A.) comprehensive damage
B.) property damage
C.) bodily injury
D.) collision
Get the Correct ANSWER
ANSWER: property damage
For the past 16 months, Susie has been paying $126.50 each month to her insurance company. After causing an accident last month, her insurance company notified her that her monthly payment will be increased by $21.25. What increase in her annual premium did Susie's insurance company apply as a result of the accident?
A.) $147.75
B.) $255.00
C.) $21.25
D.) $125.60
Get the Correct ANSWER
ANSWER: $255.00
In an effort to reduce cost on auto insurance, Sophia has lowered each component of her current plan to the cheapest possible option. Sophia's current insurance agency is Fret-No-More Auto Insurance, whose policy options are listed below. The annual premium for Sophia's current policy is $511.31. What decrease in her annual premium will Sophia see after the change?
A.) $20.59
B.) $57.10
C.) $60.88
D.) $38.15
Get the Correct ANSWER
ANSWER: $38.15
The annual insurance premium for a car Nicole bought 6 months ago is $756.00 with a $500 deductible for collision. Nicole had just paid the bill for her sixth month of insurance before she was involved in a car accident resulting in $2,000 in damage to her car. Because she had collision insurance in her policy, the insurance company took care of all of the repairs less the $500.00 deductible.
Considering how much she paid in insurance premiums and deductibles, would you say the purchase of insurance over the last 6 months was a good investment for Nicole? Why or why not?
Combining the 6 months of insurance payments ($63.00 per month for 6 months = $378.00) with the $500 deductible, Nicole paid a total of $878.00 for the $2,000 worth of repairs to her car. This was a good investment.
The table below lists the insurance options offered by AA Auto Insurance. Calculate the monthly payment for an insurance plan including the following options:
Bodily Injury: $50/100,000
Property Damage: $100,000
Collision: $500 deductible
Comprehensive: $100 deductible
A.) $50.90
B.) $54.31
C.) $50.04
D.) $68.73
Get the Correct ANSWER
ANSWER: $50.04
Part II: Scenarios
Read the following scenario and describe which type(s) of insurance would be able to help the people involved. *Important Note: You can’t buy the insurance AFTER the accident and still expect to be covered. You’d need to be already insured with the specific insurance type in order to file a claim.
Stephen is slowing down as he approaches a red light. He is looking in his mirror to switch lanes and misjudges how close Keisha’s car is, rear-ending her car. When they get out and assess the damage, Keisha’s bumper will need to be replaced. What type(s) of insurance could Stephen use to cover this accident?
A.) Collision Coverage
B.) Uninsured/Underinsured Coverage
C.) PERSONAL INJURY PROTECTION
D.) LIABILITY COVERAGE
E.) None
Get the Correct ANSWER
ANSWER: Liability coverage
Keisha had some discomfort in her neck at the time of the accident but thought it was minor and would go away. A week or so after the accident, Keisha finally goes to the doctor, who diagnoses her with whiplash and recommends two months of physical therapy. What type(s) of insurance could Keisha use to cover this accident?
A.) Collision Coverage
B.) Uninsured/Underinsured Coverage
C.) PERSONAL INJURY PROTECTION
D.) LIABILITY COVERAGE
E.) None
Get the Correct ANSWER
ANSWER: Personal Injury Protection
Melanie gets into an accident on the highway that sends her to the hospital for three weeks with multiple broken bones. Her hospital bill totals over $32,000, but she discovers that the woman who hit her only has $25,000 worth of liability insurance. What type(s) of insurance could Melanie use to cover this accident?
A.) Collision Coverage
B.) Uninsured/Underinsured Coverage
C.) PERSONAL INJURY PROTECTION
D.) LIABILITY COVERAGE
E.) None
Get the Correct ANSWER
ANSWER: Uninsured/Underinsured Coverage
Bernard is driving late at night down a narrow road when a deer runs across the road. Bernard doesn’t have time to avoid the deer and hits it. His windshield gets smashed and his bumper is partially ripped off, but Bernard is okay. What type(s) of insurance could Bernard use to cover this accident?
A.) Collision Coverage
B.) Uninsured/Underinsured Coverage
C.) PERSONAL INJURY PROTECTION
D.) LIABILITY COVERAGE
E.) None
Get the Correct ANSWER
ANSWER: Collision Coverage
Alicia is at the bar on Friday night drinking with her friends, and then decides to drive home. On her drive, she swerves to avoid a piece of debris in the road, and slides into a ditch. Alicia is okay, but her car has $8,000 worth of damage. What type(s) of insurance could Alicia use to cover this accident?
A.) Collision Coverage
B.) Uninsured/Underinsured Coverage
C.) PERSONAL INJURY PROTECTION
D.) LIABILITY COVERAGE
E.) None
Get the Correct ANSWER
ANSWER: None
Paul has a car that is 8 years old and has 126,000 miles on it. Even though he couldn't get more than $2,000 if he sold it, he still pays $350 per year for collision insurance to pay him up to the value of his car if it were damaged. If Paul decides to drop his collision insurance coverage, how is he handling that risk?
A.) Assuming it
B.) Avoiding it
C.) Transferring it
D.) Reducing it
Get the Correct ANSWER
ANSWER: Assuming it
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