Insurance

When applying for insurance you must fill out a ...

• Claim Form

• Proposal Form

• Application Form

Which of the following are “Principles of Insurance”. Select as many as you think are correct.

• Indemnity

• Intimidation

• Subrogation

• Alliteration

• Insurable Interest

Utmost Good Faith means..

• That you must tell half of the truth when applying for insurance.

• That you must be honest about all material facts when applying for insurance.

• Make up all of the material facts on your application form.

A “No Claims Bonus” is an example of a

• Loading

• Discount

• Principle of Insurance

• Type of insurance

A loading is ...

• Added to the insurance premium because of extra risk.

• A discount

• Because you are a bad driver.

An endowment policy

• Can only be drawn down when the company goes bankrupt.

• Can be drawn down at a specific date or upon death.

• Can be drawn down whenever the insured feels like it.

Car insurance is NOT compulsory in Ireland

• True

• False

Which are the three types of Car Insurance available in Ireland. Choose three options below.

• Third Party Insurance

• Comprehensive Insurance

• Third Party, Fire and Theft Insurance.

• Full Insurance

• Accident Insurance

John Insured his house with two different insurance companies. When his car was stolen, he placed a claim with both companies. Which Principle of Insurance is in place here?

• Indemnity

• Subrogation

• Utmost Good Faith

• Contribution

• Insurable Interest

Insurable Interest means...

• You can only insure something that you own and will suffer financially from its loss.

• You can insure your neighbours home.

• You can insure anything you want.