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    Insurance provides compensation if an insured item is damaged, lost or stolen, though the insured is unlikely to directly benefit from the added expense of premiums. Young drivers have less experience and are more likely to get into accidents, so their insurance premiums are higher. The purpose of insurance is to financially protect against unexpected events by adding a premium cost that may not result in a payout for the insured.

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    Insurance provides compensation if an insured item is damaged, lost or stolen, though the insured is unlikely to directly benefit from the added expense of premiums. Young drivers have less experience and are more likely to get into accidents, so their insurance premiums are higher. The purpose of insurance is to financially protect against unexpected events by adding a premium cost that may not result in a payout for the insured.

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    6 views1 page

    Topic 10

    Uploaded by

    sssda fffdf
    Insurance provides compensation if an insured item is damaged, lost or stolen, though the insured is unlikely to directly benefit from the added expense of premiums. Young drivers have less experience and are more likely to get into accidents, so their insurance premiums are higher. The purpose of insurance is to financially protect against unexpected events by adding a premium cost that may not result in a payout for the insured.

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    © All Rights Reserved
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    Topic 10: Unexpected events

    Activity 10.1

    What is the purpose of insurance?

    Insurance means adding an extra cost to something you have already paid for and then knowing
    whether you will ever benefit from that added expense. In likelihood, you will not receive any
    benefit from taking out insurance, as the only advantage of being insured is that you will be
    compensated if your insured item is damaged, lost or stolen.

    Activity 10.2

    Yong drivers have less experience so are more likely to get into accidents, therefore the insurance
    for young drivers are more expensive.

    Activity 10.3

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