Understanding 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.