No Claims Bonus - Reward for driving safely, Premium - The fee you pay for insurance, Building insurance - Protects the structure of the house from fire or flooding, Compensation - Financial payment made to an insured person, Risk - Likelihood or chance of something happening to a person that could case harm or injury, Surrender Value - Cashing out your life insurance when you are at a certain age, Write-off - The cost of repairing the damaged item is greater than the items replacement value, Material Fact - Important pieces of information that might increase risk, Contents Insurance - Protection against all items in your home, Insurance - A written promise by an insurance company to pay money to someone who has suffered a loss,

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