Insurance | Baamboozle - Baamboozle | The Most Fun Classroom Games!

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What’s a no-claims bonus?

A discount for not making a claim

Which principle says the insurer takes ownership of an item once they’ve paid compensation?

Subrogation

Which insurance type is required by law in Ireland?

Motor (car) insurance

What is compensation?

The money paid out after a loss

Which type of car insurance covers everything, including damage to your own car?

Comprehensive

If you’re under-insured, what does that mean?

You haven’t insured the item for its full value

What does PRSI stand for?

Pay Related Social Insurance

Who helps you compare prices between insurance companies?

Insurance broker

Which insurance would cover you if your holiday flight gets cancelled?

Travel insurance

Home insurance covers what two main things?

Buildings and contents

What is the money paid for insurance called?

Premium

If you have the same item insured by two companies and they both share the cost of the claim, that’s called…

Contribution

True or False: Insurance can always put people’s lives fully back together after a loss.

False

If you pay for some of the loss yourself before the insurer pays the rest, that’s called…

Policy excess

What is life assurance?

Protection in case someone dies

Which principle means you can’t make a profit from insurance?

Indemnity

If you lie on your proposal form, you’re breaking which principle of insurance?

Utmost Good Faith

What is insurance

Financial protection against a possible loss.