Insurance Matrix

In: Business and Management

Submitted By horselover25
Words 314
Pages 2
Axia College Material
Appendix E

Insurance Matrix

|Type of Insurance |Functions |Example of Company |Coverage Characteristics |
|Auto |The primary function of auto insurance is to provide |Geico, Progressive, State Farm, Farmer’s, Nationwide | Coverage characteristics can include bodily injury, |
| |protection from and compensation for damage or loss. |and Allstate are a few examples of auto insurance |property damage, collision coverage and a no-fault |
| | |companies. |option. |
|Home |The main function of home insurance is to protect the |A few examples of home insurance providers are PEMCO, |Characteristics of this include property coverage |
| |homeowner against property and liability risks. |Farmers, State Farm, Allstate, Progressive and USAA. |including buildings/structures, personal property and |
| | | |living expenses. It also includes liability coverage. |
|Health |The main function of health insurance is to protect |Some examples of health insurance companies are AARP, |Coverage characteristics can include routine care, |
| |against unexpected costs due to illness, accident or |Medicare, Medicaid, Blue Cross, Keizer and |emergency care, chronic conditions, pharmacy, |
| |injury. A secondary function is to help prevent…...

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...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......

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...Insurance Matrix Type of Insurance Functions Example of Company Coverage Characteristics Auto Is to protect you from the possible financial fall out of a major accident that you cause State Farm, NationWide, All State, Farm Bureau, AAA, Geico Liability is the most basic auto insurances. In case of an accident caused by the actions of the policy holder. Home This type of insurance provides you with the protection of your house or other real estate Liberty Mutual, AAA, State Farm Assists in paying for the both property losses from the unexpected damage of malicious action. If your home liability losses, including damage to buildings cost in damaged, vandalized, or robbed Health This type of insurance helps to pay for those coverage expenses as outlined in the policy, incurred as a result of an accident or illness Blue Cross Blue Shield, American Red Cross, This will give you a chance to allow your job to take out monthly payments to cover your health care. Health insurance covers you and 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. Social Security Disability When you can no longer work, the state will sum the total amount of money earned throughout..The time that you couldnt work any longer Life To provide protection in the event of an automobile accident...

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...Associate Level Material Appendix E Insurance Matrix |Type of Insurance |Functions |Example of Company |Coverage Characteristics | |Auto |Automobile insurance protects the driver and their |State Farm Insurance Company | Pays the majority of expenses caused by bodily injury| | |vehicle from financial repercussions when involved | |liability, property damage liability, collision, | | |with an accident. | |bodily injury, personal injury, medical bills, work | | | | |loss, rental car reimbursement. | |Home |Provides you with protection against the financial |Allstate Insurance Company |Covers expenses caused by destruction or damage of | | |loss that comes with the damage or destruction of your| |property caused by fire, explosion, glass breakage, | | |home and personal belongings, it......

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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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Insurance Matrix

...Associate Level Material Appendix E Insurance Matrix |Type of Insurance |Functions |Example of Company |Coverage Characteristics | |Auto |Protects you from damages and financial expenses due |Progressive, Country Wide, Geico, Nationwide, Liberty |Auto insurance provides financial protection in the | | |to a motor vehicle accident. |Mutual, Travelers, Allstate |event of an auto collision. It covers physical damage,| | | | |vehicle damage and any liability than can arise | | | | |therefrom. | | | | |Auto insurance companies review your driving record, | | | | |how much you drive, where you live, who the insurer | | | ...

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