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Insurance. Consumer Ed Unit. Risk Areas. Property-items owned Personal-bodily injury Liability-anyone getting hurt by you. Auto Insurance Coverage. Collision Coverage -pays for the repair or replacement of your own vehicle after a traffic accident 30% of your bill.

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insurance

Insurance

Consumer Ed

Unit

risk areas
Risk Areas
  • Property-items owned
  • Personal-bodily injury
  • Liability-anyone getting hurt by you
auto insurance coverage
Auto Insurance Coverage
  • Collision Coverage-pays for the repair or replacement of your own vehicle after a traffic accident
  • 30% of your bill
auto insurance coverage1
Auto Insurance Coverage
  • Comprehensive –protects your own vehicle against risks unrelated to traffic accidents, such as fire, hail, theft, and or vandalism.
  • 12% of your bill
auto insurance coverage2
Auto Insurance Coverage
  • Liability Coverage-steps in when a covered drive causes injury or dame to other people or their property.
  • 40-50% of your bill
  • Types-
    • Bodily Injury-covers expenses related to injuries suffered by others
    • Property Damage-covers damage to items not vehicles
    • Medical Payments-coverage of medical costs
auto insurance coverage3
Auto Insurance Coverage
  • Uninsured motorist-reimburses you bodily injury in accidents caused by uninsured drivers
  • Towing and Labor-the towing of vehicle if disabled or in an accident
  • Rental Reimbursement-gets you a car to use while yours is being fixed due to an accident
insurance rates for factors
Insurance Rates for Factors
  • Age-under 25 more expensive
  • Gender-males pay more
  • Marital Status-married are better
  • Driving Record-safe, no tickets
  • Type and age of Vehicle
  • Vehicle Usage
  • Place of Residence
vehicle insurance rate discounts
Vehicle Insurance Rate Discounts
  • Good Grades
  • Multi-policies with same company
  • Good Driver
  • Anti-theft measures
  • Defensive Driver Courses
  • College Graduates
scene of an accident
Scene of an Accident
  • Call Police/911
  • Pull over and out of traffic
  • Exchange names, phone numbers, and insurance company information
  • Do not issue blame
  • Stick to the facts when asked by police
special type of insurance
Special Type of Insurance
  • No-fault-does not assign blame for an accident
  • Each person pays for their own repairs.
home insurance
Home Insurance
  • Covers the home and its contents in case of a natural or man made disaster.
  • All items owned by family members except vehicles whether at home or away.
  • 80% rule-insure the value of the home and contents up to 80% of the cost of the replacements
exclusions
Exclusions
  • Flood
  • Building Ordinance
  • Earthquake
  • Power Failure
  • Hurricane
  • Neglect
  • Volcano
  • War
factors of home insurance rates
Factors of Home Insurance Rates
  • Age of the Home
  • Local Firefighting capabilities
  • Construction materials
  • Size of the home
home insurance rate discounts
Home Insurance Rate Discounts
  • Increase deductible
  • Upgrade wiring or plumbing
  • Security System
  • Multiple Policies with same company
home insurance specialties
Home Insurance Specialties
  • Household inventory-detail list of items that are owned (video tape contents)
  • Renter’s Insurance-covers the contents of your space not the place itself.
  • Umbrella Policy-can be added to a the policy to protect the homeowners’ liability
  • Replacement vs. Cash Value
    • Replaces-gives you a brand new item
    • Cash Value-gives you what the items is currently worth
life insurance
Life Insurance
  • Reason for is to protect the ones who are left in case of a death
  • Rule should be insured for 5 x’s your salary
  • Beneficiary is the person who gets the $$ from the life insurance policy.
types of life insurance
Types of Life Insurance
  • Term-a policy that only covers the event of death
  • Prime Candidate-young families
  • Pro-cheap, covers for a specific time period, it is renewable, can convert to whole life
  • Con-not an investment
  • Whole-a policy that covers death and is an investment
  • Prime Candidate-financial well off
  • Pros-can be cashed in, investment
  • Cons-expensive
factors to life insurance rates
Factors to Life Insurance Rates
  • Age
  • Gender
  • Health
  • Smoker/Non-smoker
  • Occupation
  • Family History
health insurance basic coverage
Health Insurance Basic Coverage
  • Hospitalization
  • Surgery
  • Outpatient
  • Major Medical

Additional Coverage-prescriptions, vision, and dental

types of insurance plans
Types of Insurance Plans
  • PPO-Preferred Provider Organization-is a plan that as long as you go to Dr’s on the list it is covered
  • HMO-Health Maintenance Organization-is a plan that selects the Dr’s and controls who you visit
  • POS-Point of Service –is a plan that requires a primary Dr, but can be referred else where and is covered if necessary
government sponsored
Government Sponsored
  • Medicare-medical insurance for retired workers
  • Medicaid-cannot afford any insurance coverage
  • Worker’s Compensation-if hurt on the job it will be covered by this-employer pays for
cobra
COBRA
  • Consolidated Omnibus Budget Reconciliation Act
  • Covers workers for one job til the next up to 18 mos.
  • Former employee must pay for the coverage
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