What is Insurance?
Prepare for an informative exploration with “Insurance”! This video invites you to delve into the world of risk management and financial protection. From unexpected events to peace of mind, we’re about to uncover the essential facts and benefits that make insurance a valuable asset. Join us as we navigate through different types of insurance, such as health, auto, and home insurance, understanding how they provide coverage and mitigate potential risks. From the importance of insurance policies to the peace of mind they offer in times of uncertainty, we’ll explore the fundamental principles of this crucial financial tool. So, prepare to enhance your knowledge and join us on this enlightening journey through the world of insurance. It’s an exploration that will leave you informed and empowered, appreciating the role insurance plays in safeguarding our future and providing stability in an unpredictable world. πΌπ‘π
Transcription for What is Insurance?
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it oh, hi guys. It’s not been a great day for us. Today we are going to learn about insurance. Don’t worry. No one was hurt. My dad was reversing the car and he didn’t see a Bollard he drove straight into it. He was really crossed at himself. When he got home mum told me don’t worry Jamal the car will get fixed. Why we have insurance. I was confused. I had never heard of insurance before so my explained. It helps you protect things that are really important to you.
Things that are very expensive and if something went wrong with them, it would cost a lot of money to get fixed. Insurance is like a bodyguard. certain things I noted and asked like the car. Mama greed so he pay a company some money every year the help protect.com insurance company will pay out some money to help pay for the repairs. Otherwise it would cost a lot of money to think. Times they will arrange a courtesy car after repairs are going to take a long time. That sounded great to me.
Mum told me. You’re great thing. They won’t even help you if your car breaks down or Worse still even stolen. I asked my mum. Do all cars cost the same to ensure. Explained that there were big differences bigger more expensive cars or more expensive to ensure. Do you think that is she asked me? I wasn’t sure so I had a think. Well, they would be more expensive to fix or replace. mum nodded His company actually a lot of important details about you and your car you’re right your job where it is Captain night.
How many people drive it does it have an alarm. You have to be very honest because of there are any mistakes they won’t cover you and you would have to pay the full price of a repair all replacement. wow, that sounded detailed and expensive I thought Mums then explained that the insurance company is taking a risk by ensuring you and your car. The longer you’ve been driving to lower the price because you are less of a risk. And if you haven’t had any accidents or damages the companies usually give you some discount which helps.
It’s called a no claims bonus. I looked at the car looks like will not get that again. I said mum, shook her head She also explained that when you give your details the insurance company will tell you everything that they will cover for you. And what they won’t some insurance companies are for different policies. So you need to be very clear with them to understand what they are offering you. I asked mum where we covered for death damage. Thankfully she said Oh, she told me how important insurances she said we have insurance for lots of things.
I asked her what sort of things. She pointed at the ceiling. Do you think we paid for like to be fixed? She said I thought The insurance I answered. That right. She said a house insurance. We would have had a big Bill their range for someone to come and look at the problem. They then sent their own Builders to sort it. But we had to do was pay an access. What’s that I asked. She explained that an excess is a smaller amount of money that we agreed we would pay in case we needed to use the insurance.
It was a very small amount compared to what a total bill would have been. That’s impressive. I said what else does house insurance cover you for mum told me that like car insurance. If somebody broke into our house, they would ensure the expensive things we have in our house like mums special jewelry. But again like the car insurance you have to make sure you have the right policy. Someone cover your contents just your building. She also said you can have pet insurance. health insurance for illness insurance and we’ll talk another day.
Thank goodness for that. My head was spinning with all those insurances. Just in time Dad called me inside and as I ran I tripped over my laces. Mom said We should try and get some insurance for you. I replied we would definitely lose our no claims bonus then.
