Making a Claim and Calculating Compensation (Junior Cert Business Studies): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What is a claim?
What is a claim?
A formal request for payment after loss
How does a policyholder make a claim?
How does a policyholder make a claim?
Complete and submit a claim form
Which is required on a claim form?
Which is required on a claim form?
Policy number and details
What loss detail must be on the claim form?
What loss detail must be on the claim form?
List of damaged items with their values
Who is an assessor?
Who is an assessor?
Professional who inspects damage
What does an assessor do?
What does an assessor do?
Examines damage and calculates loss value
What is compensation?
What is compensation?
Payment from insurer after covered loss
What is the average clause?
What is the average clause?
Formula for underinsured compensation
Why does the average clause exist?
Why does the average clause exist?
Stops benefit from underinsuring items
Home insured €300k, value €400k, loss €25k. What's the compensation?
Home insured €300k, value €400k, loss €25k. What's the compensation?
€18,750
Item insured €200, value €250, loss €100. What compensation using average clause?
Item insured €200, value €250, loss €100. What compensation using average clause?
€80
What is policy excess?
What is policy excess?
Amount policyholder pays before insurer