Insurance

Question 1

What is Insurance?

Answer 1

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

Question 2

Motor insurance advantages

Answer 2

• 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.

Question 3

Motor insurance disadvantages

Answer 3

• Expensive for new or young drivers

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

Question 4

Home and contents insurance advantages

Answer 4

• 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.