Types of Insurance

1.  Homeowner's Insurance - provides coverage for losses due to damage or destruction of a home.
 

2.  Life Insurance - provides coverage after the insured party's death, often to family member(s) left behind (beneficiary).
          a.  Term insurance: is sold for a specified time period.
          b.  Whole life insurance: provides coverage throughout the insured's life (has cash value).
 ***** a, b will not be matching. However, you will see them on the quiz

3.  Health Insurance - pays for hospital and medical treatment.
 

4.  Disability insurance - provides a monthly income when one becomes disabled.
 

5.  Automobile Insurance - provides coverage for automobile accidents and damage to the insured's automobile.
          a. Liability - covers damages if the (insured) driver injures someone or damages someone's property in an automobile accident.
          b. Collision insurance - pays for damage to the insured automobile when it is involved in a collision.
          c. Comprehensive insurance - covers damage to the insured automobile resulting from causes other than collision (Ex. - hail).
 ******* a, b,c will not be matching. However, you will see them on the quiz

6.  Title Insurance - protects a buyer of realty in the event that the seller did not have a clear title to that property.
 

7.  Social Insurance - protection of individuals against economic hazards such as unemployment, old age, or disability.
         
 

8.  Worker's Compensation Insurance - protect workers who are injured on the job.
 

9.  Malpractice Insurance - insurance purchased by physicians and hospitals to cover the cost of being sued for malpractice.

10. Renter’s insurance- Protects the renters from loss of personal possessions because of such risks as fire, theft, etc.