Utmost Good Faith - Tell the truth and reveal all relevant facts when completing proposal form, Insurable Interest - You can only insure items that you own., Indemnity - You cannot make a profit from an insurance claim., Contribution - When an item is insured with more than 1 company, each will pay you a fraction of the compensation., Subrogation - Once you have received your full compensation, that is all you can get. , Premium - The amount of money you pay for insurance cover. , Loading - An extra charge added to premium to cover higher risks., Motor Insurance - Required by law., Actuary - Calculates the amount of premium to be paid. , Assessor - Calculates the amount of compensation to be paid out. , Proposal Form - Form completed when seeking insurance., Claim Form - Form completed when seeking compensation.,

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