If you are researching home insurance, you will be asked questions regarding the security of your home and what you are doing to avoid being burgled. In addition to the basic security measures such as locks on doors and windows, there are other things you can do to lessen your chances of being burgled.
Ensure you lock all doors and windows when you go out. A high percentage of burglaries are opportunist events, where a burglar has chanced upon an open door or window. Additionally, you may want to consider upgrading the locks in your home. External doors should lock at three points. Deadlocks can offer a further degree of protection. Walk around your home looking at all the access points. Would you be able to break into your own home? The harder it is for an intruder to gain access, the more likely they will move on to an easier target.
You must change the locks if you lose your keys, especially if they were stolen from your handbag. Consider changing the locks when you move into a new property, as you don’t know who else has a set of keys to your house.
Never leave cash or valuables in a visible place. Consider placing your treasured items in a personal safe. Additionally you can increase your chances of recovering valuables by marking them with special security pens, tagging and photographing them.
Make sure that you have adequate home insurance in place. If the worst happens and you need to make a claim to replace stolen items, is your household contents insurance policy up to date? Cheap House insurance quotes can be obtained easily from a number of insurers.
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Once you have achieved your purchase of a buy-to-let property, it is easy to think that all the hard work is done. This seems especially true once you have acquired tenants willing to pay rent so that you can start seeing profits from your investment.
It can seem attractive to overlook the need for landlord insurance as you might feel that your tenants appear responsible and there is nothing untoward that could occur. However, taking into consideration the sudden and impacting changes in personal circumstances, you might want to reconsider.
Think of the way that defaults in rent payments will impact on your life. Consider how much more it would cost you if you found out that your property was damaged and suddenly required a great amount of financial resuscitation in order to make it profitable again.
Your rental property is technically out of your hands when let and ignoring this fact could easily mean that your gains could become meagre. While these factors might seem like an improbability, they are the risk that landlords run when deciding to rent out their properties.
“Protecting your investment” is not merely a statement to encourage you to part with your hard earned money on landlord insurance premiums, it is an essential if you wish to maintain some sanity and financial stability if things do go wrong. Landlord insurance not only brings about peace of mind that your property is being financially covered, but you also buy the assurance that you will be able to act fast should there be a problem.
There are two main types of life insurance; term insurance (also referred to as term assurance) and whole-of-life Insurance. However, within these two bands there are many different options that vary between insurers, depending on the situation of the person being insured.
Term insurance is usually the simplest and cheapest form of life insurance. A person is insured for a certain amount of time, for example 10 or 15 years, and pays regular premiums. If they die within that term their beneficiary will receive a lump sum. If they live for longer than the term then nothing is paid. Some insurers may include clauses that allow the policy to be extended, but this is not typical of term insurance.
Whole-of-life insurance covers a person for the rest of their life, rather than for a limited number of years. It tends to be more expensive than term insurance but may be useful for someone who has someone dependent on them right into old age.
Most life insurance policies pay out a lump sum upon the person’s death. However there are opportunities to set up a family income benefit, which will pay the beneficiary in instalments as a replacement to a regular income rather than in one lump figure. There are other options which allow the insurance to be flexible or tailored to specific needs, such as terminal illness benefit which allows the money to be paid out before death.
Different insurers will offer varying features to their life insurance policies so it is worth researching, shopping around and getting professional advice in order to find the policy which suits you best.
Life insurance policies are highly useful for covering the expensive funeral costs when a loved one dies. There are different types of policy to buy, and the quote you receive depends on your personal circumstances. Although it is recommended to buy a policy if you have dependents or a next of kin who may struggle to pay your funeral costs, it is also possible to take out a policy for a child. This is becoming particularly popular because when the premium expires you may use it to cover living costs (e.g. University fees).
Most life insurance premiums are paid monthly or annually over a period of twenty-five to thirty years. In the case of children’s life insurance, the policy is often paid up until the child turns eighteen or twenty-one and then the insurance company will pay out. Once the policy expires, the money can be put into investments or college fees. A number of parents are taking this type of life insurance out when their children are very young so that the child may have savings. Although a lot of people take these policies out for this reason, it means that another life insurance policy will have to be taken out to cover your children in the event of their death. Children’s premiums are much cheaper to pay than adults because the older you get, the higher the risk you are to the insurance firm. It is always a good idea to research different insurance company quotes before deciding which company is for you.
It is a legal requirement in the United Kingdom for cars or other motorised vehicles to be insured. This allows the vehicle to be driven in a public place, but legislation also states that a car must be insured at all times by its registered keeper. Insurance is there to provide protection for the driver, passengers, the vehicle itself, other motorists and anyone else affected in case of an accident. It protects the motorist against liability and will compensate people for any injuries they may receive or for damage to property. There are financial penalties if the registered keeper of a vehicle is not insured; however, there are certain exceptions to this rule.
Exceptions
A vehicle does not have to be insured if a SORN (Statutory Off Road Notification) has been made. This means that the government, through the DVLA (Driver and Vehicle Licensing Agency), has to be informed if the vehicle is kept off-road and not used in a public place. Vehicles with a SORN must not be driven. Insurance is not necessary for a vehicle that has been stolen, as long as the theft has been reported, or if the vehicle has been passed or sold to a car dealer. There is no need to insure a vehicle that has been scrapped, provided this has been recorded by the DVLA, or one that has been exported permanently. The DVLA should also have this on record.
Penalties
A keeper of an uninsured vehicle may be liable for a fixed penalty fine of £100, may have the vehicle clamped, impounded or destroyed, or even face a court prosecution with a possible fine of up to £1,000.
Insuring Your Home Against Winter
> Posted by walkerjack in Buildings Insurance, Contents Insurance, Home Insurance
Winter is a time when home insurance claims increase. One of the main reasons for this is the British weather. We are exposed to a variety of weather problems over winter, but, if we think ahead and plan accordingly, we can reduce the chances of damage to our property.
Storms bring with them high winds and heavy rain. This can result in anything from roof tiles blowing off to satellite dishes becoming detached, or even chimney stacks collapsing. If a roof starts to leak after a storm, it is often due to a slipped tile. This will lead to water getting into the roof timbers and causing damage. In winter it is essential to keep an eye on the roof of your house, and to keep it well maintained. Snow damage can also be a problem in winter, with the weight of heavy snowfalls leading to structural damage and collapsed roofs
It is also worth checking the trees in your garden. In high winds are they going to fall onto buildings? Will they damage cables? Damage from fallen trees can be extensive and cause significant disruption. Is your cheap home insurance going to cover you in the case of a claim or will you need extra cover?
Other winter insurance headaches can be caused by burst water pipes. Make sure the pipes in your home are lagged inside and out. If you are going away during a cold snap, it is worth leaving the central heating on low to prevent pipes freezing up.
It may seem like winter brings plenty of problems with it, but with the right home insurance in place you will be well prepared.
How do I Know if my Claim Qualifies?
> Posted by walkerjack in Insurance, Insurance Claims, Travel Insurance
It is nice to know that your travel insurance will be there to help when you need it most. When unforeseen events arise that cause a trip to be altered or cancelled, it is travel insurance that usually saves the day. To make sure your travel insurance qualifies for reimbursement, there are a few things you need to know.
If you are hoping to have your hotel accommodation reimbursed, there are two key elements to being successful with your claim. The first is that your hotel has to be pre-booked before your trip. Most travel insurance policies will not cover hotels that are booked after you arrive at your destination.
The other important element is that, for some policies, where you stay must be recognised as a tourist accommodation. This includes hotels, B&Bs, hostels, guesthouses and resorts. It is always a good ideal to check with your travel agent if you are unsure.
With certain companies, you will also need to show that your accommodation was at least 25 miles away from your home. Some travel insurance companies insist on a 50-mile radius. Other travel insurance companies will not cover trips that are not of a personal nature.
Always keep your airline tickets, accommodation confirmation and any other receipts. These will help to prove your travel dates and the cost of your trip in the event that you have to make a claim.
Key Things to Remember When Choosing Health Insurance
> Posted by walkerjack in Health Insurance, Insurance
Health insurance is increasingly popular in the UK with those who wish to seek a better standard of care, better medical facilities, and quick treatment. It provides policyholders with peace of mind that they will be taken care of in the event of medical need.
Despite all the benefits of health insurance, it is important to be aware of the facts when purchasing a policy. An uninformed individual could end up with a policy that does not meet their needs, which could leave them stuck in the event of illness if they do not actually have the level of cover they thought they had.
Therefore, the most important thing for a policyholder to understand is exactly what is covered. Private health insurance does not cover all types of illness, and before committing to a policy, it is vital to discuss your options with a private health insurance provider, who can consider your needs and help assist you in selecting a tailor-made policy. All policies must be thoroughly reviewed before commitment.
Even once a policy is chosen, the policyholder must ensure that the medical history they disclose is full and accurate, or they could find themselves not being covered at all should illness arise. For example, smokers must disclose that they smoke when taking out the policy. Smoking will raise insurance premiums significantly, but if it is not disclosed and illness connected to the smoking arises, the policy will not pay out.
Speaking to a health insurance company that is authorised and regulated by the Financial Services Authority is very important, as they can help to consider all the healthcare needs and circumstances of an individual, and assist them in selecting a policy that is suitable for their needs.
There are many things to consider when choosing insurance for your pet, and you have several different policy types to choose from. This is an overview of the main three types:
Annual Policy (or other fixed term)
This is usually the cheapest way to insure your pet. You renew regularly (usually on a yearly basis) and you can claim on any treatments or other emergencies during that period. However, there is usually a maximum limit as to how much you can claim per treatment or per health condition. It is suitable if your pet has only occasional trips to the vet, but not if he/she has a long-term problem requiring ongoing medical care. Premiums can also become more expensive as your pet gets older.
Condition Capped
With this policy, you pay per medical condition. For example, if your pet has diabetes, you can claim towards any treatments needed for that particular illness. However, there is still an upper limit – so the insurer may only pay part of the total costs, leaving you to cover the rest.
Lifetime Cover
With payments spread out into manageable regular amounts, this gives the most comprehensive cover and continues for as long as your pet lives. At first glance, it is the most expensive type of insurance, but covers all costs up to an annual limit. In the long-run, it may not be much more expensive than insuring your pet another way – other types of policy become more costly as your pet gets older, and don’t guarantee that all your costs are covered.
Home Insurance and no Claims Discounts
> Posted by walkerjack in Buildings Insurance, Contents Insurance, Home Insurance
If you have had your home insurance policy for some time with the same company and have not made a claim, your home insurance company may reward you with lower premiums. If you have a history of not making claims against your house insurance company, many insurers are eager to provide you with a discounted rate to keep such customers. If you are reviewing your current policy and looking to compare home insurance quotes, having a background of no claims is also helpful. Competing insurance companies may try to attract your business by offering reduced premiums.
Insurers can often provide a saving of up to 30 per cent after one year of no claims. This saving can increase to as much as 70 per cent after five years of no claims. However, one single claim, even after a long history of no claims, can increase your premiums. Some home insurance companies provide the option after four years of no claims to defend your no claims discount, in exchange for a slight increase in the cost of your premium. This option lets you make a limited number of claims without losing the reduction in premium you have acquired.
To reap the benefits of no claim discounts, reduce your risk of burglary by installing alarms and locks on all windows and doors. Maintain your property and keep it in good repair. If some part of your property becomes damaged, needing to be replaced or repaired, consider first whether the increase in premium would cost you more than it would for you to simply pay for the repair or replacement yourself.