The insurance company will tell you how much you need to pay for a year and they will send you a bill.
Paying for your insurance
Insurance company
A company you pay money to each year. In return, they agree that if something is lost, damaged or stolen, they will pay to replace it.
Bill
A piece of paper that says how much money you need to pay for something.
You can pay this all in one go or you can pay monthly by Direct Debit. But they may charge a bit extra for this.
Direct Debit
This is when money goes straight from your bank account to pay a company. It normally means the same amount each month which the company works out.
You can find more information on paying bills using Direct Debit in the section on this website called Managing your money. You can get to this section at the top of the page.
You can also find out more in a section called Using Your Bank Account on the Making Money Easier website.
Your insurance company will send you a policy document. This says what insurance you have bought and what it covers.
Insurance company
A company you pay money to each year. In return, they agree that if something is lost, damaged or stolen, they will pay to replace it.
Insurance
Insurance is a way of making sure that if something happens to your house or your possessions, like a fire, flood or accident, you can get money to replace things.
The policy document will have a policy number which you will have to tell them whenever you ring up to speak to them.
Policy document
This says what insurance you have bought and what it covers.
When you need to ask them for some money, it is called making a claim. The telephone number to call to make a claim will be on the policy document.
Claim
When you need to ask an insurance company for some money, it is called making a claim.
Policy document
This says what insurance you have bought and what it covers.
Keep all the insurance documents safe in a folder.
Insurance
Insurance is a way of making sure that if something happens to your house or your possessions, like a fire, flood or accident, you can get money to replace things.
Be careful!
Always tell your insurance company the truth about yourself and your home. If they find out you gave them the wrong information, they could refuse to pay a claim.
Insurance company
A company you pay money to each year. In return, they agree that if something is lost, damaged or stolen, they will pay to replace it.
Claim
When you need to ask an insurance company for some money, it is called making a claim.