What is an excess in an insurance policy?

• The regular payment you make to keep the policy active
• The share of a covered claim you must pay under the policy
• The largest payment the insurer will make for a covered claim

For optional cover, which possible future loss creates the greatest financial need for protection?

• A rare loss that would use up savings needed for rent
• A frequent repair you can fund without missing bills
• A minor loss fully covered by your existing policy

If you could pay a crash bill from savings, the affordability rule lets you skip motor insurance that your local law requires.

Your existing policy covers the same kettle faults for the same period, limits and excess. A £12 extra warranty adds no benefit. Which reason supports declining it?

• The £12 pays for cover during a later period than the existing policy
• The £12 buys no extra protection beyond the cover already held
• The £12 pays for a lower excess on faults already covered

A policy has a £250 excess. A covered scratch repair costs £180, with no other payment rule. Why would a claim bring no payout?

• The £250 excess must be paid as an extra fee on top of the repair
• The £180 repair uses part of the premium, leaving no claim money
• The £180 repair is below the £250 excess, so you pay its full cost

Which set includes the price, payout restrictions, risks not covered and your contribution to a claim?

• Premium, payout limits, excluded events and the excess
• Premium, payout limits, renewal date and instalment dates
• Premium, renewal date, exclusions and claim forms

In many US health plans, what does an out-of-pocket maximum limit?

• Your specified share of covered in-network care costs for the plan year
• Your premiums and care costs paid during the same plan year
• The insurer's payments for covered in-network care in the plan year

For your £1,000 bike, quote A is £75 a year and excludes theft. B is £110 a year, covers theft up to £2,000 and has a £150 excess you can afford. Other conditions are met. Which quote meets the theft-cover need, and how much more is its yearly premium?

• Quote A; £35 less per year
• Quote B; £185 more per year
• Quote B; £35 more per year