Types of Insurance

Question 1

Car

Answer 1

To cover both theft and accidents - there is a legal requirement to insure any car that is on the road and this protects the driver, passengers and other road users

Question 2

Home and Contents

Answer 2

Home ~ Covers the physical building against events like a fire or flood damage
Content ~ Covers the physical items inside the house and when they are used away from home

Question 3

Life Assurance and Insurance

Answer 3

Assurance ~ an ongoing policy to pay a lump sum upon death
Insurance ~ policy for a set period of time (e.g. mortgage term) to pay a lump sum if you die within that period

Question 4

Travel

Answer 4

Protects individuals or groups while abroad. Cover usually includes illness, loss or theft of property, cancellation and emergencies up to a predetermined limits.

Question 5

Pet

Answer 5

Protects the owners of pets against some or all of the expenses associated with treating an injured or sick animal e.g vet fees

Question 6

Health

Answer 6

Covers individuals, families or employees against medical expenses including assessments, treatments and loss of earnings