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Managing my money
Managing my money

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8.1.3 Mick sorts out his insurance

This quiz tests your ability to apply the financial planning model to insurance.

Activity 1

a. 

Go to insurer’s website to complete application form and pay the £75 premium


b. 

Add up the value of all his possessions


c. 

Go to several comparison websites to check cover, prices and exclusions


d. 

Check his budget and savings to see what he can afford to pay


The correct answers are b and d.

a. 

Go to several comparison websites to check cover, prices and exclusions


b. 

Add up the value of all his possessions


c. 

Go to insurer’s website to complete application form and pay the £75 premium


d. 

Check if the policy covers the TV and games system he subsequently buys


The correct answer is a.

a. 

Go to the selected comparison website to choose an insurer


b. 

Check if the policy covers the TV and games system he subsequently buys


c. 

Check his budget and savings to see what he can afford to pay


d. 

Go to insurer’s website to complete application form and pay the £75 premium


The correct answers are a and d.

a. 

Add up the value of all his possessions


b. 

Go to insurer’s website to complete application form and pay the £75 premium


c. 

Compare the selected renewal premium with other providers’ offers


d. 

Check if the policy covers the TV and games system he subsequently buys


The correct answers are c and d.