Intro to Insurance
Overview
Insurance is about protecting yourself against financial losses that come from unexpected events like a car accident, a medical emergency, or even the sudden death of a loved one. Sometimes insurance is required, like when you own a car or have a mortgage. Other times it’s optional, but may be a good idea. What’s important is knowing how to get insurance coverage that balances what you can afford to pay with what you can’t afford to lose.
Which type of insurance isn’t typically required by either the government or lenders?
Homeowner’s insurance
Auto insurance
Life insurance
Health insurance
What factors influence the cost of auto insurance?
Your driving history
Your age
Your coverage limits
All of the above
If you are at fault in a car accident, what can happen to your insurance coverage?
Your deductible can be raised
The cost of insurance can go up
For most people there is no effect
Your credit score can go down