SECTION A: SHORT ANSWER TASKS

$30$

TASK ONE

Please research the following insurance options in a South$-$African context.

Incident options: Fire damage, Accident damage to own vehicle, Accident damage to the other owners vehicle, Theft, Accident damage, Hale damage, Hi jacking, access waiver

$1\mathrm{.}1$ You own a car and have comprehensive insurance. Choose from the incident options above which ones the insurance policy will cover. $(3)$

$1\mathrm{.}2$ You own a car and have Third party only insurance. Choose from the incident options above which ones the insurance policy will cover. $(3)$

$1\mathrm{.}3$ You own a car and have Third party with Fire and Theft insurance. Choose from the incident options above which ones the insurance policy will cover. $(3)$

$1\mathrm{.}4$ The normal excess amount is R$3000-00$ you agree with the insurance company that you will only claim for damages higher than R$10000($you will not claim for an amount under R$10000-00).$ Why would you agree to pay the first R$10000-00?(3)$

$1\mathrm{.}5$ Who will pay the highest insurance premium a $24$ year old driver or a $60$ year old driver, why? $(3)$

$1\mathrm{.}6$ The book value of your car is R$100000-00$ but is only insured for R$80000-00.$ After an accident your car is written off. How much will the insurance company pay out? $(3)$

$1\mathrm{.}7$ Your companies' truck burned down on its way to Durban. The insurance company only pays for the load. Which types of insurance did you have? $(4)$

$1\mathrm{.}8$ The owner of the company you work for dies. All the debt he owns the bank gets written of$.$ Which types of insurance did the owner have? $(4)$

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$1\mathrm{.}9$ Your company takes out insurance. The

insurance will pay out if the

forklift driver hurts a customer. Which types of insurance did the company have? $(4)$