There are three main types of car insurance policy available to UK drivers: the third party policy, the third party fire and theft policy, and the comprehensive policy. There are distinct reasons for choosing any one of these three policies when choosing your car insurance.
The third party car insurance policy is geared towards protecting others from dangerous or destructive drivers. The Road Traffic Act of 1988 obliges UK drivers to have enough insurance to compensate others for any property loss or injury their driving may cause. Third party car insurance allows the driver to pay off any claim that is made against them as the result of their driving, whether it is from another driver or a passenger. Since this policy does not cover repairs to the insured’s vehicle, it is best for those who have an older car or a car in less than mint condition of low value.
As the name of the policy indicates, third party, fire and theft gives the insurer all the coverage outlined above, with the addition of a payout in the case of fire or theft of the vehicle. More than just straightforward third party car insurance, this policy is geared toward those whose car has a bigger resale value.
The third car insurance policy available to UK drivers, the comprehensive policy, gives drivers all of the coverage already outlined in this article, as well as additional coverage for their car’s damage due to an accident. Although it is the most expensive car insurance policy of the three, comprehensive insurance is always the most prudent way to go. However, the driver should always purchase car insurance based on their own particular needs.
read comments (0)Pet Insurance Made Simple
> Posted by walkerjack in Pet Insurance
Vet’s bills can be expensive; therefore it is financially safer to have a pet insurance plan in place to cover the costs of any necessary treatments. In addition to medical bills, the insurer may cover any costs incurred as a result of looking for a lost or stolen pet or the costs of looking after a pet if its owner goes into hospital. This all depends on the type of insurance plan. Often insurers will cover for medical treatments for illness but not for vaccinations. The cost of neutering is not covered. Most insurance companies will only cover domestic pets such as cats, dogs and horses, but it is advisable to ask if they will cover your pet. Rare pets such as snakes and reptiles may cost more to insure.
There are two types of pet insurance plans that can be purchased, the first being a limited time plan. A limited time plan only covers a pet for a certain length of time, such as a year and has to be renewed after this period. The second type is a life long plan, which essentially covers a pet for any illnesses throughout the length of its life. Illnesses will be more frequent later in life and this will increase the price of the insurance as with human insurance policies.
Insurance companies should be registered with the Financial Services Authority (FSA) so make sure this is the case before choosing where to purchase pet insurance.
When comparing cheap contents insurance quotes, policies are divided into two main types: wear and tear, and new for old.
Wear and Tear Contents Insurance
Policy Expert contents insurance quotes tend to be of the wear and tear variety. Wear and tear policies reduce the value of the contents of your home according to the age and condition of the item. Therefore, if an older item is lost, stolen or destroyed, it may be replaced by one of lesser value.
New for old Contents Insurance
Getting contents insurance on a new for old basis means that however old an item is, it will be replaced with a new, comparable item. This means that a new for old contents insurance quote tends to be a little bit more expensive than one that is provided on a wear and tear basis. However it may be worth the extra expense for the peace of mind that comes with knowing that if your home’s contents are lost or damaged, you will not be forced to accept a cheap substitute.
Health is a very individual matter, and so the standard policies of an insurance provider cannot possibly cover all the individual needs of each customer. Luckily, it is standard to have some room for negotiation when it comes time to choose a cover option. In addition, changing circumstances mean that customers sometimes have to change their health insurance agreement to make sure that they are still covered.
Development of new health conditions can affect the way a healthcare policy works. Provision should be made for regular appointments and procedures that may be a part of living with the condition. Specialist cover is generally available for these cases, and this can easily be added onto an existing policy. A good company will be able to advise the customer on the best way to fit this into their agreement.
Sometimes an individual decides that they wish to expand their health insurance by covering for people other than themselves; these are often spouses and other family members. This is a good way to simplify your dealings with the health insurance company, instead of taking out several smaller policies.
Make sure to include all information when taking out a new policy with the company – everything that affects your health is important and any issues must be revealed to the insurer.
When the unexpected occurs, especially when it involves your house, it is reassuring to know that you have some protection. Home emergency insurance is a type of home insurance that expressly covers those urgent situations that can arise. Most home emergency insurance cover circumstances of crises, such as blocked drains or burst pipes, loss of access to utilities (hot water, heating, gas, electricity), loss of keys to your house, or windows or doors that have been broken and thus pose a security risk.
Home emergency insurance is usually considered an additional benefit that can be added to your standard buildings insurance with accidental cover for an additional fee. Most home insurance policies do not cover emergency situations, such as a hot water breakdown or a blocked toilet. Purchasing home emergency insurance can give a homeowner some peace of mind, knowing that should such an event arise, they have the means to deal with it immediately. However, one should understand that home emergency insurance is certainly not a substitution for your home insurance policy.
All home emergency insurance policies do have exclusions such as loss or damage that occurred before the policy was purchased, or was a result of equipment that was not appropriately maintained. Home emergency coverage does not cover any damage to pipes, outbuildings, fences, gates, or hedges outside the house. These exclusions should be read through carefully before making a claim or deciding if home emergency coverage is right for you.
Depending on the nature of your travel, you may want to consider some specific types of travel insurance, like insuring your equipment or insurance for long stays.
Winter holidays that involve skiing and snowboarding are quite popular in Britain. A special type of winter sports travel insurance can give you exactly the type of coverage you need. Broken legs and arms are common injuries that result in painful memories and hefty medical bills in foreign countries. In France, for instance, a broken leg is around £4,000, while prices rise in the US or Canada. Skiing equipment is another worry – whether it is your personal skis or hired, it is good to cover them against loss or theft.
The adventure travel insurance is another type of insurance policy that is offered to those who love adventure sports. The need of insurance is increased when you plan bungee jumping, sky-diving or white water rafting. Give yourself and your friends and relatives peace of mind before you start putting yourself at risk.
If you are planning to spend longer periods of time abroad, you should consider “long stay insurance”, also known as “backpackers travel insurance” or “students travel insurance”. These policies vary from three months to a year and a half, including working abroad, and are especially important for people who plan to go to third world countries.
People with medical conditions should consider travel insurance for people with pre-existing medical conditions, which give them the freedom to travel without worrying about the extra risks.
Finally, always compare prices and types of insurance to find the one that suits you best.
SORN – For Vehicles Kept Off the Road
> Posted by walkerjack in Car Insurance
Although there is a legal requirement for a car to be insured, and penalties in the form of fines or possible destruction of a vehicle for failing to insure it, there are several exceptions to the rule. Motorists should be familiar with these exceptions as they could prevent financial penalties and criminal proceedings.
SORN
When a Statutory Off Road Notification, or SORN, is made, a car does not need to be insured. An owner must notify the Driver and Vehicle Licensing Agency (DVLA) in Swansea that the vehicle is not going to be used in a public place and will be kept off the road, bearing in mind that roads are public places. Thus, a garage or a driveway would be appropriate places for a vehicle to be kept. SORN should be declared as soon as possible following the decision to keep a vehicle off the road. This may be when the road tax is due for renewal, in which case no payment is required for the tax and no insurance is needed, or at any time during which the vehicle remains in possession of valid road tax and insurance. Any prepaid road tax or insurance will be repaid by the DVLA and the insurer, so it is worth being proactive when it comes to declaring a car as off the road.
Stolen Car
If a car has been stolen, the owner must report the theft as soon as possible to avoid a claim on their insurance. The owner is only protected if the theft has been reported to the authorities. This helps to prevent fraud and thus, to keep insurance premiums down for car owners.
Sold Car
As soon as a car has been sold and taken away, the previous owner is no longer liable for insuring the vehicle. This applies both to private sales and instances in which a car has been passed on to a car dealer. It is important to ensure that the appropriate new ownership details are sent to the DVLA so that the previous owner is not thought to be liable for insuring the car.
Scrapped or Exported Car
If a car has been scrapped or exported permanently, it does not need to be insured. It is essential that the DVLA are informed of a scrapped or exported car.
Research carried out by The Association of British Insurers shows that one in five households in Britain could be underinsured. The main reason for this unfortunate situation is that policyholders simply did not know the value of their household contents. If you are in the position of having to make a claim, underinsurance can be a real headache. If you have insufficient cover you will find that the full cost of replacing lost or damaged items will not be met by your insurance company.
To avoid being underinsured, take time to re-check your house insurance documents. Study the paperwork and make sure you completely understand the level of cover that you have.
Make an inventory of your household contents. Walk through each room in your home and list the items. Do not forget the curtains and carpets. Also, remember to include tools in the garden shed or garage, if these are covered by your policy. Make use of the quick calculation tools offered by some online insurers, as these will help you arrive at an approximate value for home contents.
Some cheap contents insurance quotes do not include cover for all your possessions. Antiques, art and high value items are often required to be listed separately and will incur an additional premium. If you are not sure about some items, make a list and query it with your insurers.
Make it a rule to keep your household insurance up-to-date, and ensure that your policy cover reflects any changes. Reviewing your house contents insurance annually should ensure that you achieve the best cover at the most competitive price.
What is Travel Insurance and what does it protect?
> Posted by walkerjack in Travel Insurance
Travel insurance has been designed to protect holidaymakers against unforeseen events, such as delayed or cancelled trips, lost luggage and damage, or lost or stolen personal items. It can also be there to protect you against the loss of deposits and other non-refundable payments due to unforeseen circumstances.
No one wants to lose the cost of a trip due to bad weather conditions or a sudden illness. Having travel insurance is an ideal way to protect your travel investment if such events were to arise. If you should have to interrupt or cancel your trip due to situations out of your control, travel insurance can help to ease the financial burden and worry with reimbursement.
Travel insurance generally covers medical expenses due to a sudden illness or other emergency. This can also include evacuation and other forms of medical transportation. Policies can also cover stolen, lost or damaged baggage, the cost of accommodation if you have suffered a travel delay, and also the essential items needed, such as clothing and toiletries, in the event that your luggage is also delayed.
Consumer traveler insurance can easily be purchased from your travel agent. This can be done at the time you book your trip. Travel insurance is a separate travel expense and will vary in cost, depending on the policy and the amount of cover that you choose.
Pets provide love and companionship that may seem priceless to any pet-owner, but the reality is that pets do come at a price. Any owner would do whatever it takes to keep their pet healthy and happy, but sometimes this can become a heavy financial burden. Accidents or sudden illnesses can produce hefty vet bills, but pet insurance can ensure that the bills are paid and you can concentrate on getting your pet better.
The most popular insurance policies taken out are for cats and dogs, and pedigree breeds are perhaps the most likely pets to be insured. Pedigrees are expensive to buy and if they are lost, stolen, or die unexpectedly, the owner can claim the purchase price of the pet from an insurer. Secondly, pedigree pets are likely to inherit medical conditions and may need lots of expensive treatment, which pet insurance can cover the cost of. Insurance is also available for different types of pets; horses, rabbits, guinea pigs and exotic animals can all be insured, but it may require more research to find an insurer with the right policy.
Not only does insurance cover the cost of a pet’s medical treatment, it can also cover holiday cancellations if a pet becomes ill, or the expense of the kennels or cattery if the owner were to be taken ill. Different insurers will offer different levels of cover, so spend time choosing the right policy that will suit your needs adequately.