MANAGEMENT

Detailed explanation-1: -Joey’s father is in a car accident and cannot work. What type of insurance replaces his father’s earnings? Liability insurance covers accidental harm that may be caused to other people or property.

Detailed explanation-2: -Casualty insurance includes vehicle insurance, liability insurance, and theft insurance. Liability losses are losses that occur as a result of the insured’s interactions with others or their property.

Detailed explanation-3: -Liability insurance coverage protects you financially if you’re responsible for someone else’s injuries or property damage. Liability coverage comes standard with most vehicle and property insurance policies, including auto and homeowners insurance.

Detailed explanation-4: -What is something you should NOT do in the case of a collision? You should not say “I’m sorry” after a collision, as it could be used against you in court as an admission of guilt.

Detailed explanation-5: -When you buy insurance, you purchase protection against unexpected financial losses. The insurance company pays you or someone you choose if something bad happens to you. If you have no insurance and an accident happens, you may be responsible for all related costs.