Insurance Quiz - Bob Meyer Insurance Lakeville, Minnesota

Insurance Quiz

Insurance Quiz - How good is your insurance knowledge?

1) An individual insured purchases car insurance liability limits of $100,000 per person and $300,000 per occurrence with $50,000 in property damage. A car accident is caused by the insured resulting in a lawsuit. $200,000 is awarded to the individual.

Will insurance cover the entire settlement?

2) Does Minnesota allow an Individual to increase their auto Personal Injury Protection (PIP) benefits?

3) True or False. All Insurance Companies give you automatic auto insurance coverage for 30 days after you purchase a new or replacement vehicle?

4) True or False. If you hire a Nanny to care for your children while at work, you do not need to provide workers compensation insurance for the Nanny unless he or she lives with you?

5) True or False. All terrain vehicles (ATVs), snowmobiles, and other unlicensed recreational vehicles are covered for fire and theft under most homeowners policies?

6) True or False. Damage to rental vehicles are covered by all Minnesota Personal Auto Policies?

7) True or False. All Minnesota Personal Auto Policies provide coverage for rental vehicles anywhere in the world except were there is ongoing conflict or war?

8) True or False. If you rent an apartment, the Landlord or Owner of the building will replace your personal property in the event of a fire?

9) True or False. Minnesota Homeowners policies provide flood damage coverage?

10) True or False. Most homeowners policies provide full guaranteed dwelling replacement coverage. (Insurers will replace your home regardless of amount of coverage purchased. True False

Detailed answers to the questions above can be found throughout this site or call us directly at 952.469.0414

Answer Key

1)No 2)Yes 3) False 4)False 5)False 6)True 7)False 8)False 9)False 10)False

Detailed answers can be found thoughout this site.

How did you do? If you missed one or more questions you should be using a Trusted Choice Insurance Agent as your personal Advisor and Insurance Agent.

A small mistake on your part could cost you thousands or even several hundreds of thousands. Don't risk your retirement and financial future. Call us now for a free insurance review and ask us how to reduce your premiums and/or improve your protection. 952-469-0414.