Podcast
Questions and Answers
What does a loss adjuster do?
What does a loss adjuster do?
What is the role of an actuary?
What is the role of an actuary?
What does the term 'renewal' refer to in insurance?
What does the term 'renewal' refer to in insurance?
What are 'exclusions' in an insurance policy?
What are 'exclusions' in an insurance policy?
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What does the term 'deductible' refer to in insurance?
What does the term 'deductible' refer to in insurance?
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Study Notes
Insurance Policy and Coverage
- Insurance policy on a car can protect against theft or damage, or both.
Reducing Premiums
- It is possible to reduce premiums without losing coverage.
Personal Insurance Policies
- Some people personally have insurance policies that cover theft.
Buying Insurance
- Insurance can be bought from a broker or directly from an insurance company.
Paying Deductibles
- Some insurance policies require the policyholder to pay a deductible before the insurance company pays the rest of the claim amount.
Making Claims
- People can make claims for insurance coverage, and some may have received compensation pay-outs.
Insurance Roles
Broker
- A broker advises about different companies and their policies.
Policyholder
- A policyholder pays premiums and has the right to make claims.
Third Party
- A third party receives insurance protection from someone else who has purchased an insurance policy.
Underwriter
- An underwriter evaluates the risks of insuring a particular person and sets premium pricing based on that information.
Claimant
- A claimant makes a claim with an insurance company.
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Description
Test your knowledge of car insurance with this quiz covering topics such as the importance of having an insurance policy, coverage against theft and damage, reducing premiums, and purchasing from brokers or insurance companies.
