Car Insurance Terms to know: Terms to know: Financial Responsibility Laws Financial Responsibility Laws Premium Premium Deductible Deductible.

Slides:



Advertisements
Similar presentations
© 2005 Consumer Jungle Lesson Three: Insuring a New or Used Car.
Advertisements

Buying, Owning & Insuring a Car Buying a Vehicle.
G1 © Family Economics & Financial Education – Revised February 2009– Transportation Unit – Automobile Insurance Funded by a grant from Take Charge.
Are You Ready to Drive? Ask yourself…Ask yourself… –Do I have a license? –Is my car registered? –Am I covered by auto insurance?
Vehicle Insurance Financial Responsibility Law requires driver to prove you can pay for damages you cause Premium specified amount of money for coverage.
Collisions and Insurance. Stop immediately Assist the injured Control the scene Notify the police Exchange information Duties If Involved in a Crash Notify.
Auto Insurance. Why It’s Needed Accidents are expensive Car theft is common It’s required by law (in most states)
Chapter 33 Vehicle Insurance pp Introduction to Business, Chapter 33 Slide 2 of 60 Why It’s Important Most states require you to have some form.
Personal Finance FIN 235. LEARNING OBJECTIVES A. What is insurance? B. Why do we need insurance? C. What is the risk management process? D. How does insurance.
Insurance Vehicle Insurance 20-2 Property Insurance
Warm Up 11/ = – = Sport truck with 42,306 miles driven on it. Average retail value is $19,600. Add $275.
COSTS OF BUYING A CAR PART 2 Because cars still cost money.
Homeowners and Auto Insurance
Vehicle Insurance Chapter 33. Types of Vehicle InsuranceLaws on Vehicle InsuranceThe Costs of Insurance Basics Bodily Injury Liability Property Damage.
Managing Your Personal Finance UNIT 2: GETTING YOUR FIRST CAR Topic: CAR INSURANCE.
Auto Insurance Mrs. Bruzan. Liability Insurance -Minimum Limits in Illinois Who and what is covered? The other driver and his car Is it required by the.
Auto and Home Insurance Click to add subtitle. Objective Given instruction, the learner will explore the functions and benefits of different types of.
Stock Market Analysis and Personal Finance Mr. Bernstein Motor Vehicle Insurance, pp June 8, 2015.
Financial Literacy Skills Unit 4: Understanding Taxes and Insurance.
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 20 SLIDE Vehicle Insurance Property Insurance.
Chapter 11 Insurance. Concept of Insurance $500/year homeowner’s policy will pay $1000 house or $500,000 lawsuit –Relatively small amount compared to.
Auto Insurance September 18,2014. Liability  legal term for responsibility.
NEFE High School Financial Planning Program Unit 6 – Your Money: Keeping it Safe and Secure Unit 6 - Insurance: Protecting What You Have.
© 2005 Consumer Jungle Insuring a New or Used Car.
Automobile Insurance Managing the Risk G1 © Family Economics & Financial Education – Revised November 2004 – Transportation Unit – Automobile.
Automobile Insurance Managing the Risk G1 © Family Economics & Financial Education – Revised November 2004 – Transportation Unit – Automobile.
Insurance Protecting What You Have. ExposureRisk Potential Loss Accident or Illness PropertyOwnership Liability Loss of income from inability to work;
Chapter 17/13.5 Buying and Owning a Vehicle and Insurance.
VEHICLE INSURANCE. Why It’s Important Most states require you to have some form of vehicle insurance. To get the best value, you need to know the choices.
Chapter 38 Vehicle Insurance.
Vehicle Insurance Section 9-4. Who or What is Protected? / You / Your vehicle / Another person / Another’s property / You / Your vehicle / Another person.
Insurance Take Charge of Your Finances G1.
Chapter 16. Buying/Owning a Vehicle What are some questions you should ask yourself before buying a vehicle? What type is best for me? Operating expenses?
Auto Insurance Information Mr. Blais Law and You.
Car Insurance. Premium and Deductable Premium is your monthly/semiannual/yearly fixed payment Deductable is the amount you pay out of pocket when filing.
Jessica, Shelby, Brittany & Allie. Bodily Injury Liability Coverage- protects you against financial loss when you are responsible for injuring other people.
So here you are… It’s a beautiful sunshine-filled day…. You’re driving along….
Looking at Insurance: Auto and Home Chapter 9. *Risk Factors – Auto Insurance costs Rating Territory Driver Classification Age Gender Marital status Driving.
Auto Insurance Policy Pre Test. Bodily Injury Property Damage Collision Coverage Comprehensive Coverage Uninsured Motorist Coverage This coverage provides.
Credit and Insurance Project Student Name. Credit Card 1 Card Name: Introductory Period: Introductory APR: APR after Introductory Period: Annual Fee:
V EHICLE I NSURANCE Chapter 14, A BOUT THE R ISKS  All states have a financial responsibility law. This means you will be held responsible for.
INSURANCE Reimbursement for personal or financial loss.
NEFE High School Financial Planning Program Unit 6 – Your Money: Keeping it Safe and Secure Unit 6 - Insurance: Protecting What You Have.
Auto Insurance
Seminar: Timely Topics for Today’s Business World Mr. Bernstein Motor Vehicle Insurance January 21-22, 2015.
Managing the Risk G1 © Family Economics & Financial Education – Revised February 2009– Transportation Unit – Automobile Insurance – Slide 2 Funded.
Liability coverage – covers liability and expenses when you’re at fault in an accident Bodily Injury Liability (BIL) – pays for the medical expenses of.
Vehicle Registration – Tags  Tag follow individual when: Selling vehicle Trading vehicle Transferring ownership of a vehicle  Turning in tags: When.
Insurance Final Question Final Question DiscountsPolicyCoverageBasics
Liability insurance - Financial protection against accidents that cause bodily injury and property damage. comprehensive insurance - Insurance protection.
Chapter 16 Part III Motor Vehicle Insurance. Financial Responsibility Anyone who owns or drives a vehicle should have protection against personal injury.
What is a Premium? The amount of money charged by the Insurance companies for active coverage.
Insurance Automobile and Health. What is insurance?  Insurance – Manage your risk of financial loss from illness, injury or damage.  Premium – Regular,
Insurance: Your Protection Financial Literacy Mrs. Dayley.
Unit 8: INSURANCE. 1. According to the Unit 8 reading: Risk is defined as ….. Chance of loss from some type of danger.
 Address Change- 1 week  Name Change- 2 weeks  Lost or Stolen License- Report to the police then replace at MVC  Organ Donation- When applying for.
Risk Management and Insurance: Auto Insurance. Auto Insurance Required by law in New Jersey.
Insurance 101 “Risk Management” Insurance Risk Management Protection against Financial Loss.
WHY BUY IT?? VEHICLE INSURANCE. Why It’s Important Most states require you to have some form of vehicle insurance. To get the best value, you need to.
Lesson Three: Insuring a New or Used Car. Auto Insurance Based on Risk & Loss Why do you need it? –To financially protect yourself, others, and your car.
Car Insurance 6.7. Car Insurance Premiums Terms to know – Bodily Injury – Property Damage – Collision – Comprehensive damage.
Unit 8: INSURANCE.
Click here to advance to the next slide.
Car Insurance.
Automobile Insurance Managing the Risk.
* Take Charge of Your Finances G1
Automobile Insurance Managing the Risk.
Automobile Insurance Managing the Risk.
Automobile Insurance Managing the Risk.
Presentation transcript:

Car Insurance Terms to know: Terms to know: Financial Responsibility Laws Financial Responsibility Laws Premium Premium Deductible Deductible

Types of Car Insurance Liability Insurance Liability Insurance Bodily Injury Liability Insurance Bodily Injury Liability Insurance Property Damage Liability Insurance Property Damage Liability Insurance Uninsured Motorist/Underinsured Motorist Insurance Uninsured Motorist/Underinsured Motorist Insurance Collision Insurance Collision Insurance Comprehensive Insurance Comprehensive Insurance Medical Payments Insurance Medical Payments Insurance Towing Insurance Towing Insurance Rental Insurance Rental Insurance

How do they determine your rates? Based on statistics Based on statistics Look at the following categories: Look at the following categories: Driving Record Driving Record Age Age Miles Driven Miles Driven Driver Gender Driver Gender Marital Status Marital Status Type of Vehicle Type of Vehicle Where You Live and Drive Where You Live and Drive Driver’s Claim Record Driver’s Claim Record

Ways to reduce your premiums Good Student Discount Good Student Discount Good Driver Discount Good Driver Discount Multiple Policies Multiple Policies Safety Features/Anti- Theft Devices Safety Features/Anti- Theft Devices

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2024 SlidePlayer.com Inc. All rights reserved.