Assurance is protection against a certain loss that will happen in the future, in the case of ______ ______ the certainty is death.

A Business would need this insurance type to cover their fleet of delivery vans.

We have a dog and feel this type of insurance would be best.

You plan on doing a trip to Australia, which cover is best for you?

The amount of money an individual or business pays for an insurance policy

The amount that the insurance company has agreed to pay for covered losses that are stated in your policy.

The form completed by the policyholder when applying for insurance.

Is also known as the insurance company.

Making a full declaration of all material facts in the insurance proposal form.

A profit cannot be made from the Insurance.

Once the insurance company has paid the compensation the ownership of the item is now with the insurance company.

The principle holding that two or more insurance companies for one item, the compensation is split between the two companies.

Insurable Interest is benefiting from having it and suffer a finical loss if it's gone.

Different risk factors add to the premium of the persons insurance, this is called what?

This is a discount received by the insured for not making any claims on their car insurance. It is deducted from the premium

Trained professionals who analyse potential risk in insurance

A proposal form in an application form when taking out insurance, utmost good faith needs to be applied here.

Non Insurable Interest would be?

No claims bonus is?

Loading in insurance is an extra charge

An insurance broker is arranges insurance for their client and gets the best price and policy.