Lesson 8: Insurance Essentials - Template
Insurance Needs Assessment
Personal Risk Profile
Factor | Your Situation | Risk Level | Notes |
Dependents | â–¡ None â–¡ Partner â–¡ Children â–¡ Other | ||
Home ownership | â–¡ Own with mortgage â–¡ Own outright â–¡ Rent | ||
Vehicle ownership | â–¡ Yes â–¡ No | ||
Employment type | â–¡ Employed â–¡ Self-employed â–¡ Not working | ||
Health status | â–¡ Excellent â–¡ Good â–¡ Fair â–¡ Poor | ||
High-value possessions | â–¡ Yes â–¡ No | ||
Travel frequency | â–¡ Rarely â–¡ Occasionally â–¡ Frequently | ||
Pets | â–¡ Yes â–¡ No |
Essential Insurance Priorities
Based on your risk profile, rank these insurance types by priority (1 = highest): - ____ Buildings insurance - ____ Contents insurance - ____ Car insurance - ____ Life insurance - ____ Income protection - ____ Critical illness cover - ____ Private health insurance - ____ Travel insurance - ____ Pet insurance
Home Insurance Planner
Buildings Insurance
Factor | Details |
Property address | |
Property type | â–¡ House â–¡ Flat â–¡ Bungalow â–¡ Other: _______ |
Construction type | â–¡ Standard â–¡ Non-standard |
Year built | |
Number of bedrooms | |
Rebuild cost | £ |
Current buildings cover | £ |
Adequate? | â–¡ Yes â–¡ No â–¡ Unsure |
Contents Insurance
Room | Estimated Value | High-Value Items | Notes |
Living room | £ | ||
Kitchen | £ | ||
Dining room | £ | ||
Master bedroom | £ | ||
Bedroom 2 | £ | ||
Bedroom 3 | £ | ||
Bathroom(s) | £ | ||
Office/study | £ | ||
Garage/shed | £ | ||
Other | £ | ||
TOTAL | £ |
Current contents cover: £_______ Adequate? □ Yes □ No □ Unsure
High-Value Items Requiring Specific Coverage
Item | Value | Proof of Value | Currently Covered? |
£ | □ Yes □ No | □ Yes □ No | |
£ | □ Yes □ No | □ Yes □ No | |
£ | □ Yes □ No | □ Yes □ No |
Car Insurance Planner
Vehicle Details
Factor | Details |
Make and model | |
Year | |
Registration | |
Estimated value | £ |
Insurance group | |
Annual mileage | |
Storage location | â–¡ Garage â–¡ Driveway â–¡ Street |
Primary driver | |
Additional drivers |
Coverage Options Comparison
Coverage Level | Estimated Premium | What’s Covered | What’s Not Covered | Selected? |
Third Party | £ | □ | ||
Third Party, Fire & Theft | £ | □ | ||
Comprehensive | £ | □ |
Optional Extras Evaluation
Extra | Cost | Value Assessment | Include? |
Courtesy car | £ | □ Yes □ No | |
Legal protection | £ | □ Yes □ No | |
Breakdown cover | £ | □ Yes □ No | |
Windscreen cover | £ | □ Yes □ No | |
Personal accident | £ | □ Yes □ No | |
No claims protection | £ | □ Yes □ No |
Life and Health Insurance Planner
Life Insurance Needs Calculator
Factor | Amount |
Years of income replacement | × £ annual income = £ |
Mortgage balance | £ |
Other debts | £ |
Children’s education costs | £ |
Funeral expenses | £ |
SUBTOTAL | £ |
Existing assets/coverage | - £ |
TOTAL LIFE INSURANCE NEEDED | £ |
Income Protection Assessment
Factor | Details |
Monthly essential expenses | £ |
Current monthly income | £ |
Employer sick pay duration | |
Self-employed? | â–¡ Yes â–¡ No |
Savings buffer | £ (months of expenses: ___) |
Recommended monthly benefit | £ |
Recommended deferred period | â–¡ 4 weeks â–¡ 8 weeks â–¡ 13 weeks â–¡ 26 weeks â–¡ 52 weeks |
Recommended benefit period | â–¡ 2 years â–¡ 5 years â–¡ To retirement age |
Critical Illness Considerations
Factor | Details |
Family history of serious illness | â–¡ Yes â–¡ No |
Existing health conditions | â–¡ Yes â–¡ No |
Recommended coverage amount | £ |
Key conditions to ensure are covered |
Insurance Policy Inventory
Current Policies
Insurance Type | Provider | Policy Number | Annual Premium | Renewal Date | Coverage Amount | Notes |
Buildings | £ | £ | ||||
Contents | £ | £ | ||||
Car | £ | £ | ||||
Life | £ | £ | ||||
Income Protection | £ | £ | ||||
Critical Illness | £ | £ | ||||
Health | £ | £ | ||||
Travel | £ | £ | ||||
Pet | £ | £ | ||||
Other | £ | £ | ||||
TOTAL ANNUAL COST | £ |
Insurance Cost Reduction Plan
Insurance Type | Current Premium | Cost-Saving Strategy | Potential Savings | Implementation Date |
£ | £ | |||
£ | £ | |||
£ | £ | |||
£ | £ | |||
TOTAL POTENTIAL SAVINGS | £ |
Claims Process Reference
Emergency Contacts
Insurance Type | Provider | Claims Hotline | Policy Number | Notes |
Buildings/Contents | ||||
Car | ||||
Life/Health | ||||
Travel | ||||
Pet |
Claims Checklist
â–¡ Take photos/videos of damage â–¡ Make emergency repairs if necessary (keep receipts) â–¡ Report to police if crime-related (get crime reference number) â–¡ Contact insurer promptly (note date, time, and reference) â–¡ Keep detailed records of all communications â–¡ Obtain repair/replacement quotes if required â–¡ Complete claim forms accurately and thoroughly â–¡ Retain all relevant documentation
Insurance Review Schedule
Insurance Type | Review Frequency | Next Review Date | Key Considerations |
Buildings/Contents | |||
Car | |||
Life | |||
Income Protection | |||
Critical Illness | |||
Health | |||
Travel | |||
Pet |