6.1 Write down the policy number of Bomvana's inst 6.2 Determine the missing value A , the monthly premium for the VW Polo. 6.3 Bomvana qualifies for a discount on his insurance premiurns as he has insured many items. Calculate the percentage discount that he receives if the total monthly premium (3) before the discount was R2 450,36. 6.4 Bomvana was involved in a motor vehicle accident during July 2022. The quotation for damages from the panel beaters was R43 522,00. Determine the amount the insurance company will pay the panel beaters. 6.5 The premium for the Toyota Corolla is much lower than that of the VW Polo. Give ONE possible reason for this big difference in the premium amount. 6.6 Bomvana pays a MiHome premium for household content zover to the value of R200 000. After the household contents were evaluated for insurance purposes, he bought an additional lounge suite. Explain how the purchase of this new item will affect ais MiHome content premium. (2) [15]
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Beyond the Answer
Bomvana's insurance journey has quite the interesting historical background! The concept of insurance dates back thousands of years, with ancient merchants spreading their risk by pooling resources to cover potential losses. By the 17th century, modern insurance began to take shape in London, establishing businesses aimed specifically at protecting trade and property—a practice that Bomvana benefits from today! Now, let's talk about real-world applications! Insurance isn’t just about peace of mind; it’s a financial safety net when the unexpected strikes. For example, after Bomvana's recent accident with his VW Polo, the insurance company will step in to cover repair costs, allowing him to get back on the road without digging deep into his pockets. This real-life scenario showcases how insurance can protect an individual's financial stability while managing the risks of everyday life.
