Different Types of Insurance Flashcards
What is car insurance
A contract between you and insurance company that provides financial protection in case of accident, theft etc.
How does the process of car insurance work
Customer pays insurance company policy to cover them against the risk of injury/ damage that may be caused while driving
What is home and contents insurance
Provides financial protection for your house and the belongings inside
What is the process of home insurance
Customer pays an insurance company policy to cover the risks of damage to their home
What is life insurance
A contract between you and insurance company that Provides financial protection to you in case you die
What is the process of life insurance
Customer pays an insurance company policy to cover them against the chance of death
If they die any debts they have will be covered by insurance payment
What is travel insurance
An insurance that covers anything that happens whilst travelling
What is the process of Travel Insurance
Customer pays insurance company to cover them against issues such as; medical expenses, trip cancellation and lost luggage
