week 7 assignment - Axia College Material Appendix F...

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Axia College Material Appendix F Insurance Matrix Type of Insurance Functions Example of Company Coverage Characteristics Auto To cover legal responsibility threat regarding damage to material goods and possessions, other vehicles involved in the accident, and people injured during the accident, covers against fire, theft, or accident damage separately, acts as a contract between you and your company GEICO Car Insurance Depends on your driving record (assigns points to motorists with convictions or at-fault accidents, which increases rates), depends on where you live (urban areas are at risk of accidents or thefts, which increases rates and rural areas decreases these risks), depends on mileage (motorists driving greater distances are at greater risks and receive higher premiums) Home Protects your home from damage incurred in the course of living, protects you from financial duress (paying for bodily injury or property damage for which you are liable), acts on your behalf (negotiating a
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week 7 assignment - Axia College Material Appendix F...

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