Insurance products

What are the advantages of car insurance?

• Meets legal requirements - compulsory.

• Protects self against fire and theft.

• Protects damage to a third party.

What are the disadvantages of car insurance?

• High premiums e.g. for young drivers.

• Excess to be paid, e.g. first £250.

What are the advantages of home insurance?

• Protects against damage that otherwise be too expensive to pay for e.g. burst water pipe.

• Contents can be protected for both inside and outside of the house (personal possessions).

What are the disadvantages of home insurance?

• Premiums paid each month.

• Some items may not be covered unless specified.

What are the advantages of life assurance and insurance?

Provides peace of mind to those suffering a bereavement.

What are the disadvantages of life assurance and insurance?

No payments made if not used.

What are the advantages of travel insurance?

• Protects individuals and property away from home e.g. cash, possessions, passport.

• Covers medical costs and repatriation when away from home.

• Protects against holiday cancellations.

What are the disadvantages of travel insurance?

Have to pay upfront for loss and claim later.

What are the advantages of pet insurance?

• Avoids expensive vet fees.

• If vet fees unaffordable, pet may need to be put to sleep and insurance prevents this being the case.

What are the disadvantages of pet insurance?

An additional monthly expense for households to pay.

What are the advantages of health insurance?

• Compensation provided when ill so patient can concentrate on getting well rather than being unable to afford care.

• Private healthcare often means faster appointment and treatment with better facilities.

What are the disadvantages of health insurance?

• May never use it.

• Can be expensive.

• Will not cover existing conditions.