Fred loya insurance - Study guides, Class notes & Summaries

Personal injury protection (PIP) - Answer-Covers in case of a car accident no matter who's at fault. It covers medical bills for you and your passenger's. It pays up to $2,500 for each person hurt in vehicle. Uninsured motorist (UM) - Answer-Covers in case you are involved in a car accident, the accident is the other persons fault and they DO NOT have insurance. You have coverage for your passengers and your vehicle. For one person hurt in your vehicle we pay up to $30,000 in medical bill...

Fred Loya Insurance Exam Questions And Answers (Verified And Updated) risk - answerUncertainty concerning the occurrence of a loss Exposure - answerwhat the insured is exposing to the insurer to premium calculations - answerthe higher the risk is, the greater the premium Speculative Risk - answera risk in which there is a chance of either loss or gain pure risk - answeris insurable. it is when you can only lose, not win. ARRTS - answerAvoid, Reduce, Retain, Transfer, share Deductible - a...

Pure Risk - No possible gain risk - The certainty of a future outcome Speculative Risk - Involves gain or loss Peril - The cause of a loss Ex; accident, fire wind ,hail,collison Hazard - increase possibility of a loss

Fred Loya Insurance Exam Questions With Verified Answers Pure Risk - answerNo possible gain risk - answerThe certainty of a future outcome Speculative Risk - answerInvolves gain or loss Peril - answerThe cause of a loss Ex; accident, fire wind ,hail,collison Hazard - answerincrease possibility of a loss Loss - answerchance of loss because of an exposure premium - answermoney collected from insured exposure - answerpossibility of a loss retention - answeragreement to be able to retain ...

risk - Uncertainty concerning the occurrence of a loss Exposure - what the insured is exposing to the insurer to premium calculations - the higher the risk is, the greater the premium Speculative Risk - a risk in which there is a chance of either loss or gain pure risk - is insurable. it is when you can only lose, not win. ARRTS - Avoid, Reduce, Retain, Transfer, share Deductible - An amount the insured must pay before benefits become payable by the insurance company.

Fred Loya Insurance with complete solution

Fred Loya Insurance with complete solution

Fred Loya Insurance Exam Questions With Verified Answers Liability: - answeris the minimum the state of California requires you to have in order to drive a vehicle. In case you are involved in an accident that is your fault, the company pays: up to $15,000 in medical expenses for 1 person injured in the vehicle you hit, up to $30,000 if it's more than one person injured, and up to $10,000 for any property you may damage. Comprehensive & Collision: - answercovers your vehicle in case of fi...

Fred Loya Insurance Questions With Verified Answers Personal injury protection (PIP) - answerCovers in case of a car accident no matter who's at fault. It covers medical bills for you and your passenger's. It pays up to $2,500 for each person hurt in vehicle. Uninsured motorist (UM) - answerCovers in case you are involved in a car accident, the accident is the other persons fault and they DO NOT have insurance. You have coverage for your passengers and your vehicle. For one person hurt...