Understanding insurance

Group workingUnderstanding insurance

Outcomes to be accredited

In successfully completing this unit the student will have to:
Demonstrate the ability to:

  • Identify at least 5 different types of insurance products on the market 
  • Identify which insurance product would cover a specific event 
  • Identify at least two reasons why some forms of insurance are important 
  • Identify at least two alternatives to insurance 
  • Complete calculations to show how no claims discounts may be effected by making a claim. 

Acquire an understanding of:

  • Which insurance products if any, you must have by law 
  • Where to buy insurance products 
  • How to value different areas of the home for contents insurance purposes.