Take The Insurance Quiz! Trivia
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- 1.
What is the average lawsuit settlement for a soft-tissue (whiplash) auto injury?
- A.
$3,700
- B.
$7,500
- C.
$103,000
- D.
$217,000
Correct Answer
D. $217,000 -
- 2.
What does the average dog bite lawsuit settle for?
- A.
$1,700
- B.
$5,000
- C.
$11,100
- D.
$35,000
Correct Answer
D. $35,000 -
- 3.
Your odds of having a serious auto accident are every:
- A.
Year
- B.
Three years
- C.
Seven years
Correct Answer
C. Seven years -
- 4.
The average lawsuit settlement for an auto fatality is:
- A.
72,000
- B.
320,000
- C.
1,200,000
Correct Answer
C. 1,200,000 -
- 5.
The best way to lower your insurance cost is:
- A.
To shop around
- B.
Lower your liability coverage
- C.
Raise your deductible
- D.
Remove the coverage for under/uninsured motorists
- E.
Lower your deductible
Correct Answer
C. Raise your deductible -
- 6.
If you are insured, your insurance company will pay all of the costs of an accident less your deductible.
- A.
Only up to your policy limits
- B.
Yes, they have to. It's a legal contract
- C.
No
Correct Answer
A. Only up to your policy limits -
- 7.
To stay current with new laws, you should review your policies every:
- A.
Six months
- B.
Everytime your premium goes up
- C.
Year
- D.
Three years
Correct Answer
C. Year -
- 8.
One of the most common causes of house fires is:
- A.
Fireplace
- B.
Electric coffee pot
- C.
Children playing with matches
- D.
Falling asleep while smoking
Correct Answer
B. Electric coffee pot -
- 9.
You're installing a backyard swimming pool and while the ground is being dug, your house cracks. Are you covered?
- A.
Yes, the claim happened on your property
- B.
Only if you have earthquake insurance
- C.
No
Correct Answer
B. Only if you have earthquake insurance -
- 10.
Insurance is all the same; just go with the cheapest quote?
- A.
Yes, insurance is all the same
- B.
No. Go with the company that has the coolest tv ads. They MUST be the best!
- C.
If the policy is cheap, it will be more expensive on the back side after an accident.
Correct Answer
C. If the policy is cheap, it will be more expensive on the back side after an accident. -
- 11.
Insurance companies that promote settling accidents within 48 hours are awesome!
- A.
Yes! Take the money and run!
- B.
No.
- C.
Heck No! Most injuries take 72 hours to manifest symptoms.
Correct Answer
C. Heck No! Most injuries take 72 hours to manifest symptoms. -
- 12.
Do you agree that carrying coverage for under/uninsured motorists is unfair?
- A.
Yes, why should I pay for other people who aren't insured or don't have enough insurance!
- B.
I should just carry a little bit of coverage as my agent told me to do.
- C.
Under/uninsured motorist coverage is the most important part of your policy. Most people drive around with severely inadequate coverage because they trusted an agent who wasn't well informed.
Correct Answer
C. Under/uninsured motorist coverage is the most important part of your policy. Most people drive around with severely inadequate coverage because they trusted an agent who wasn't well informed. -
- 13.
Newer cars have lower insurance premiums because they have so many airbags.
- A.
True
- B.
False
- C.
Airbags don't stop the brain from an injury when the car goes from 70 mph to 0 mph in 2 seconds flat. Premiums will not change dramatically because of airbags.
Correct Answer
C. Airbags don't stop the brain from an injury when the car goes from 70 mph to 0 mph in 2 seconds flat. Premiums will not change dramatically because of airbags. -
- 14.
If you have a burglar alarm and your house is robbed at night and there is no evidence of break-in because the door was unlocked, would your claim be covered?
- A.
Yes, that's what insurance is for.
- B.
Many companies would deny the claim because the homeowner was negligent in securing his property by locking the door.
Correct Answer
B. Many companies would deny the claim because the homeowner was negligent in securing his property by locking the door. -
- 15.
If your policy doesn't carry high enough limits and you rear-end a pregnant woman and cause her to lose her unborn child, if you're sued can you claim bankruptcy to avoid having to pay any money out of your pocket?
- A.
Yes
- B.
If you aren't thrown in prison for manslaughter, your wages will be garnished 25% until the woman is compensated for her losses.
- C.
In addition, to garnished wages, even your social security and IRA payouts can be garnished.
Correct Answer
C. In addition, to garnished wages, even your social security and IRA payouts can be garnished. -
- 16.
Doubling liabiity limits on a policy, will double premiums?
- A.
Yes, with insurance companies who cater to younger drivers or substandard companies who fight to pay claims tooth and nail.
- B.
Oftentimes, the increase in premium is about the same as the coin you'd find in a parking lot after a night out.
Correct Answer
B. Oftentimes, the increase in premium is about the same as the coin you'd find in a parking lot after a night out. -
- 17.
Why didn't my agent offer me higher liability protection on my policy?
- A.
Wants a profit bonus at the end of the year and doesn't want his agency paying out large sums of money in claims.
- B.
It is old school and stuck in a behavioral pattern of writing policies that were adequate for the 1970s but severely inadequate for current times.
- C.
He/she didn't think your life was very valuable.
- D.
Does old school calculations of what your net worth is, disregarding the cost of rehabilitation and loss of income when you can't work after an accident or pain and suffering, as being the most important needs for higher protection on your auto policy.
- E.
All of the above
Correct Answer
E. All of the above -
- 18.
Group life insurance policies from work are insufficient and should be replaced by a personal life insurance policy from Catherine Revell Insurance because:
- A.
Group life policies are generally "accident only" policies and won't cover death by illness or disease.
- B.
When you leave your job (the average job is kept 7 years), you can oftentimes keep the policy but it can cost up to five times as much.
- C.
You will have to requalify for a new life policy and you may be uninsurable if you've been diagnosed with skin cancer, diabetes or an assortment of other dis-eases.
- D.
Group life policies are oftentimes more expensive than a personal policy because everyone in the group is rated as if they were very unhealthy.
- E.
All of the above.
Correct Answer
E. All of the above. -
Quiz Review Timeline +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 17, 2022Quiz Edited by
ProProfs Editorial Team -
Jan 04, 2009Quiz Created by
Honestkate
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