What does 'PIP' stand for in auto insurance?
Answer
Personal Injury Protection
79 Insurance Trivia Questions with Answers
79 public questions with answers, drawn from the well. How many can you answer?
Insurance trivia covers the policies, principles, people, and coverage types that help individuals and businesses manage financial risk. Questions may test the meaning of PIP in auto insurance, the purpose of renters insurance, and the difference between term and whole life insurance.
This hub also explores claims handling, workers' compensation, business interruption coverage, and the legal principle of insurable interest. It suits insurance professionals, finance students, classroom review, and anyone preparing a pub quiz or game night round where everyday knowledge meets industry vocabulary.
What is the name of the insurance policy that covers a tenant's personal belongings and liability?
Answer
Renters insurance
What is the name of the type of life insurance that provides coverage for the entire lifetime of the insured?
Answer
Whole life insurance
What type of insurance covers medical expenses and lost wages for employees injured on the job?
Answer
workers' compensation insurance
What is the term for the person who investigates and settles insurance claims?
Answer
claims adjuster
What is the name of the auto insurance coverage that pays for a rental car while your vehicle is being repaired after a covered claim?
Answer
Rental reimbursement coverage
What is the term for insurance that covers a business's lost income after a covered disaster?
Answer
Business interruption insurance
What is the name of the insurance coverage that pays a lump sum upon diagnosis of a covered critical illness?
Answer
Critical illness insurance
What is the name of the health insurance marketplace created by the Affordable Care Act?
Answer
Health Insurance Marketplace
What is the name of the 1774 Act of Parliament that required life insurance policies to have an insurable interest?
Answer
Life Assurance Act 1774
What is the name of the world's first life insurance company, founded in 1706 in London?
Answer
Amicable Society
What is the name of the standard exclusion in liability policies for harm the insured intended to cause?
Answer
Expected or intended injury exclusion
What federal law prohibits insurers from using genetic information for underwriting?
Answer
Genetic Information Nondiscrimination Act
What type of insurance covers legal fees and damages if your business is sued for a customer's injury on your premises?
Answer
General liability insurance
What type of insurance provides benefits to employees for job-related injuries or illnesses?
Answer
Workers' compensation
What is the term for insurance that protects a business from the financial loss of a key employee's death?
Answer
Key person insurance
What is the largest health insurance company in the United States by revenue?
Answer
UnitedHealth Group
What is the term for insurance that covers a group of people under a single policy?
Answer
Group insurance
What is the term for a type of life insurance that pays dividends to policyholders?
Answer
Participating life insurance
What is the name of the federal law that created the state-based system of insurance regulation in the U.S.?
Answer
McCarran-Ferguson Act
What U.S. state was the first to adopt a no-fault auto insurance system?
Answer
Massachusetts
What is the name of the database used by U.S. insurers to share information about claims history?
Answer
Comprehensive Loss Underwriting Exchange
What is the term for insurance that covers the cost of legal defense for professionals against negligence claims?
Answer
Errors and omissions insurance
What is the term for the maximum amount an insurer will pay for a covered loss?
Answer
Policy limit
Which insurance company is known for its 'Flo' mascot?
Answer
Progressive
What type of insurance covers damage to your car from a collision with another vehicle?
Answer
Collision coverage
What is the term for the person who owns an insurance policy?
Answer
Policyholder
What type of insurance covers damage to your home and its contents?
Answer
Homeowners insurance
What is the name of the oldest mutual insurance company in the United States (founded 1752)?
Answer
The Philadelphia Contributionship
What is the name of the clause in insurance policies that excludes coverage for losses due to radioactive contamination?
Answer
Nuclear exclusion clause
What is the name of the act of the U.S. Congress that created the National Flood Insurance Program?
Answer
National Flood Insurance Act of 1968
Insurance trivia — quick answers
What are good insurance trivia questions?
Good insurance trivia questions cover recognizable policy types, key terms, claims processes, and the purpose of different kinds of coverage. Examples include asking what PIP means, which policy protects a tenant's belongings, or what insurance covers workplace injuries.
How hard is insurance trivia?
Insurance trivia ranges from easy questions about auto, health, and life insurance to more challenging questions about legal principles, specialized coverage, and claims terminology. It is accessible to general audiences but can still challenge people familiar with finance or business.
What does PIP stand for in auto insurance?
PIP stands for Personal Injury Protection. It is an auto insurance coverage that generally helps pay medical expenses and, depending on the policy and jurisdiction, certain related costs such as lost wages after a covered motor-vehicle accident.
What is renters insurance?
Renters insurance is a policy designed for tenants. It commonly covers personal belongings against specified risks and provides personal liability protection. The building itself is usually insured by the property owner, not by the tenant's renters policy.
What is insurable interest?
Insurable interest is a financial or other recognized stake in the person or property being insured. The policyholder must stand to experience a legitimate loss if the insured person dies or the insured property is damaged, helping prevent insurance from functioning as a wager.