Insurance Flashcards by Matthew Beatty

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Q

What is Insurance?

A

Financial service, that provides an individual or companies, protection against a financial loss.

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Q

Motor insurance advantages

A

It is a legal requirement that is meet.
Different levels of cover to meet individual requirements, Third party, and fully comprehensive.
Can build up a no clams bonus
Provides protection against liability claims from other drivers.

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Q

Motor insurance disadvantages

A

Expensive for new or young drivers

- Policy excesses can add to costs in the vent of a claim.

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Q

Home and contents insurance advantages

A

Home insurance covers the cost of rebuilding or repairs as a result of fire, flooding or subsidence.
Contents insurance covers loss or damage to personal possessions.

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