Appendix E Insurance Matrix

In: Business and Management

Submitted By johcrawford
Words 261
Pages 2
Associate Level Material
Appendix E

Insurance Matrix

|Type of Insurance |Functions |Example of Company |Coverage Characteristics |
|Auto |To provide financial protection against physical |Nationwide, GEICO, State Farm, Progressive, Allstate, |Liability coverage pays for the legal responsibility |
| |damage or bodily injury resulting from traffic |Amica. |to others for bodily injury or property damage. |
| |collisions. | |Policies: (PAP) Individual coverage and family |
| | | |automobile. (FAP) for several people in a family who |
| | | |are driving the same car. |
|Home |To cover the cost of re-building or fixing a home |Farmers, Allstate, Liberty Mutual. |Liability; responsibility for another person’s losses.|
| |damage or destroy by fire, theft or other accidents. | |Property protection; in the case that the building is |
| | | |damage in the event of fire, natural or others. |
| |…...

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...Type of Insurance Functions Example of Company Coverage Characteristics Auto To protect you from the possible financial fall out of a major accident that you cause. State Farm Liability I the most basic auto insurances. In case of an accident caused by the actions of the policy holder, or by another driver operating the policyholder's vehicle, the liability coverage part of the policy will pay for property damages and personal injuries to the extent of the policy's limits. Home Provide protection of your house or other real estate Liberty Mutual This assists in paying for the both property losses and from unexpected damage of malicious action. If home liability losses, including damage to buildings cost I damaged, vandalized, or robbed. Health To pay those coverage expenses as outlined in the policy, incurred as a result of an accident or illness. Blue Cross Blue Shield They give you a chance to allow your job to take out monthly to cover your health. Health insurance allows you to cover you in your family when it comes to whatever what you include on your plan. Disability Protects against the loss of income due to disability. Many employee’s offer their employees short-term and long-term disability insurance. An insurer also offers it as a stand-alone product. Social Security Disability When you can no longer work, the state will sum the total amount of money earned throughout your work history. Life To provide protection in the event of an automobile accident or......

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Appendix E

...Associate Level Material Appendix E Insurance Matrix |Type of Insurance |Functions |Example of Company |Coverage Characteristics | |Auto |The function of auto insurance is for coverage for |Auto Owners is an example of an automobile insurance | Automobile Insurance will cover bodily injury, and | | |property and liability risks, if there is an accident |company. This is an excellent company in Lansing, |property damage coverage. Coverage also protects you | | |with your vehicle. (Personal Automobile Policy) this |Michigan. |from legal liability, medical costs incurred to you or| | |is for individual coverage, (Family Automobile | |other people in your car that are injured, it may also| | |Policy) This is for several people in the family | |include collision coverage under part D of the PAP, | | |driving the same car. These are standard insurance | |and this coverage is optional. | | |contracts to make coverage comparable...

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