What is an excess?

• The logo printed on the policy
• The part of each claim you pay yourself
• A bonus the insurer pays you yearly

Which risks are worth insuring?

• Rare losses that would ruin you
• Every small bill you could pay calmly
• Only losses that already happened

Car crash cover and phone scratch cover are equally worth buying.

Circle one:   True   False

Which policy fails the ruin rule yet still sells well?

• Motor cover against a major crash
• Extended warranties on cheap goods, sold on fear
• Health cover with a yearly maximum

What does a higher excess do to your incentives?

• It makes tiny claims completely free
• It removes the need to read exclusions
• It stops you claiming for every scratch

What four things should you compare across policies?

• Price, limits, exclusions and excess
• Logo, font, colour and slogan
• Office size, staff count, ads and jingles

Why learn deductible, copay, network and yearly maximum while healthy?

• The yearly maximum caps your worst year, which is the point
• Healthy people pay higher premiums than ill people
• These terms only apply to car insurance

Two drivers pick policies. One takes the cheapest quote blindly. The other reads exclusions and picks a higher excess. Who is better covered?

• Both equally, since all policies are identical
• The first, because cheapest always means best value
• The second, because cover level beats headline price