Types of insurance

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Advantages of Car Insurance
Meets legal requirements.
Protects self against theft or damage.
Protects against damage caused to a third party
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Disadvantages of Car Insurance
Premiums can be high depending upon assessed level of risk.
Normally there is an excess that must be paid
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Advantages of Home and Contents Insurance
Protects against damage which may otherwise be too expensive to repair resulting in the loss of a home.
Contents are protected both when inside and outside the house
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Disadvantages of Home and Contents Insurance
Premiums are an additional expense to home ownership.
Some items cannot be replaced due to a value beyond the financial worth
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Advantages of Life Assurance and Insurance
Provides peace of mind to family following the bereavement of a homeowner
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Disadvantages of Life Assurance and Insurance
If the policy holder doesn't die within the period of life insurance no payment is made
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Advantages of Travel Insurance
Provides protection for personal belongings when away from home.
Covers medical costs when on holiday.
Protects against cancellation and sometimes delays.
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Disadvantages of Travel Insurance
The person suffering the loss is likely to have to pay upfront to replace items or cover medical costs and then reclaim later.
An additional cost when travelling abroad
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Advantages of Pet Insurance
Avoids expensive vet fees.
If vet fees are too high, there may be no alternative to having the pet put down - insurance can avoid this
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Disadvantages of Pet Insurance
An additional monthly expense to protect against the unexpected
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Advantages of Health Insurance
Some compensation is provided when ill which can reduce the financial burden and stress allowing the patient to concentrate on recovery rather than financial worries.
If used to fund private care, this often results in quicker treatment and better facilit
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Disadvantages of Health Insurance
Paying for something that you hope you will not use.
Premiums can be expensive depending upon the degree of cover required.
Will not cover pre-known conditions
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Other cards in this set

Card 2

Front

Disadvantages of Car Insurance

Back

Premiums can be high depending upon assessed level of risk.
Normally there is an excess that must be paid

Card 3

Front

Advantages of Home and Contents Insurance

Back

Preview of the front of card 3

Card 4

Front

Disadvantages of Home and Contents Insurance

Back

Preview of the front of card 4

Card 5

Front

Advantages of Life Assurance and Insurance

Back

Preview of the front of card 5
View more cards

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