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INSURANCE 201

QUIZ

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insurance 201 quiz

Personal Insurance Quiz 201 - Intermediate

10 Intermediate level, random quick, easy home and car insurance quiz questions to help you unlock how it works by increasing your knowledge.

Under insurance is calculated using average. Average is calculated using the below formula:
Average = (Sum Insured Amount) / (Actual Replacement Amount ) x (Claim Amount)
Once you have worked out the average amount you need to minus the excess and it will give you the total amount that an insurer will payout.

1 / 10

My contents is covered for R100 000 with a basic excess of R2 000. Someone breaks into my house and steals all my contents. I submitted a claim, the insurer advises that I am under insured.

My contents is actually worth R250 000. How much will I be paid out?

Under insurance is calculated using average. Average is calculated using the below formula:
Average = (Sum Insured Amount) / (Actual Replacement Amount ) x (Claim Amount)
Once you have worked out the average amount you need to minus the excess and it will give you the total amount that an insurer will payout.

2 / 10

My home burns down and I have building cover for R2 000 000. After validating the claim, we realise that the cost to replace my home is actually R2 400 000.

I have an excess of R10 000. How much will the insurer pay me out?

3 / 10

Does my marital status really affect my vehicle insurance premium?

4 / 10

What is SASRIA cover?

5 / 10

What happens if I had a burglary at my home 2 years ago and I didn’t tell my current insurer about it when I took out home contents cover?

6 / 10

Pam who is 29 years old, takes out insurance with Z Insurers for her car. She opts for a basic excess of R5 000.

The are also 2 additional excesses on her policy schedule. (Drivers under the age of 25 years R2 000 excess and where an accident happens between 11pm and 4am R5 000 excess).

Pam goes out partying and she meets up in an accident at 2am. She is stressed out about how much excess she needs to pay when she claims, how much would she need to pay?

Under insurance is calculated using average. Average is calculated using the below formula:
Average = (Sum Insured Amount) / (Actual Replacement Amount ) x (Claim Amount)
Once you have worked out the average amount you need to minus the excess and it will give you the total amount that an insurer will payout.

7 / 10

My contents is covered for R100 000 with a basic excess of R2 000. Someone breaks into my house and steals contents to the value of R50 000. I submitted a claim, the insurer advises that I am under insured.

My contents is actually worth R250 000. How much will I be paid out?

8 / 10

What is an additional excess?

9 / 10

Gary goes to work on a Friday, he ends up staying after work with his colleagues and they have a few drinks. He leaves work at 11pm and heads home. As he is passing the robot, a guy who is highly intoxicated skips the red robots and knocks into Gary. Gary and the other driver are not injured however upon the police arriving they test them both for alcohol and both Gary and the other driver are arrested because of their alcohol levels. Will the insurer pay for the damages to fix Gary's car?

10 / 10

What happens if I decide to cancel my vehicle insurance and self insure?

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*This quiz is not intended as financial or insurance advice. Call us for specific insurance related questions and advice.

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