Money Essentials

1. When you apply for insurance, how does the insurance company assess what kind of driver you are?
    The only consideration is how old you are
    They guess, based on the accumulated statistics for drivers in your demographic
    They'll only take you if you haven't been in any accidents
    None of the above
2. A car that's totaled is
    Not drivable
    Worth less, after the deductible, than the cost of restoration
    Worth less than the deductible
    Completely destroyed
3. How much bodily injury liability insurance do you need?
    Enough to meet state minimum coverage limits
    $100,000 per person
    $300,000 per accident
    $100,000 per person and $300,000 per accident
4. The average driver files a collision claim
    Every ten years
    Every six years
    Every four years
    Every three years
5. Which of these indicators would probably make your auto insurance cheaper?
    A clean driving record for at least 36 months
    Completing a defensive driving course
    Purchasing a car in a make that's not frequently stolen
    All of the above
6. When you file a collision claim, be sure to
    Let the insurance company handle everything
    Demand quality parts. Request equipment from the original manufacturer
    Use a repair shop in your insurer's network of preferred providers
    Make the other person in the accident pay the deductible
7. Which of these could easily get you dropped from your auto insurance?
    Failing to report a teenage driver
    Getting into your first fender-bender
    Taking driver's education
    Running a red light
8. When a hit-and-run driver strikes your car, what kind of coverage will you need?
    Uninsured motorist coverage
    Personal injury protection
    Bodily injury liability insurance
    Property-damage liability protection
9. Which of these kinds of insurance must you have?
    Towing and labor coverage
    Rental coverage
    Medical-payments coverage
    Uninsured motorist coverage
10. What kind of records can insurers access?
    Your motor vehicle record
    Credit record
    History of claims with other insurers
    All of the above