Boat Insurance
If you are a proud boat-owner, you may already know that you are required to take out a boat insurance policy if you intend to use your boat on public waters. The boat insurance market is as competitive as any other, so you should be sure to thoroughly investigate what’s out there in order to find a policy that provides the precise cover you require at an affordable price. First off, as boat insurance is slightly less common and therefore a little trickier than other forms of vehicle insurance, it is important that you find an insurance company who will listen and respond to your individual needs. You need to have faith in this company to provide you with cover and respond quickly and efficiently to any difficulties you may have.
A good way of judging an insurance company, although certainly not fool proof, is to pay attention to the length of time that the company has been successfully serving the boat industry. The longer a company has been insuring other boat owners like yourself, the more likely it is that they know what they are doing and will be helpful and consistent. Some insurance companies that offer boat insurance will also offer the various standard forms of insurance such as home, contents and car insurance, and if you consider all these policies well enough in advance you may find that you are able to get a great deal by taking out multiple forms of insurance from the same company. However, no matter how good a deal may seem at first, do not neglect to read the small print of the policy so you are one hundred percent sure what you are letting yourself in for. You may also consider going online to a price comparison website to compare quotes from various different companies, helping you to find the most affordable deal for you.
Guide to Car Insurance
Whether renewing your car insurance or insuring your car for the first time, browsing around the market to find the best deal is obviously a desperate requirement. Too many new car owners immediately settle for the first offer they see, whilst existing owners are all too quick to renew cover that may in fact be quite extortionate compared to other deals that are out there. Many people do not realise how much the market can change over a year, so it is always worth looking round and checking out the competition rather than simply renewing the same old policy. If so far that provider has been good for you, you can still stick with them; just be sure that it is your absolute best option and before making a decision have a look at endsleigh.co.uk.
Various research conducted in the comparison of different car insurance providers has shown that you, as a driver and car owner, can lower what you pay every year by an average of over £150. If you happen to be one of the drivers at the top end of this spectrum, you could be saving much more than that, just by making the effort to search around a little. Be careful about when you start looking, too, as many insurers will automatically renew your possibly at the end of a year unless you contact them in time and ask them not to do so. A lot of drivers are caught in the same insurance policy because they forget to call or just can’t be bothered, meaning that they are very easily trapped in their contract year in, year out.
If you are thinking of obtaining your first car insurance policy, you will be able to choose between a fully comprehensive or third-party protection policy. You may assume that third-party cover is cheaper, but this is not always the case, so if you can get fully comprehensive cover at a reasonable price there is no reason you should go for the latter. It may sound improbable, but due to insurers manipulating the prices of insurance to suit their needs, it is entirely possible you will find more cover for less cost if you search around extensively.
Children’s Life Insurance Plans
Life insurance for children is available from a variety of financial companies, but is it something that you should consider? Although offered by a variety of companies, experts often advise against taking out life insurance policies for children, as there are other ways that you can add to the financial security.
When it comes to life insurance for children, there are certain aspects that should be taken into account. First, it is important to realize that life insurance is often meant to settle the debts and other expenses that are left behind when a person passes away. In the case of most children, they are not going to incur these debts through their lifetime.
Personal finance experts have a variety of alternatives that can be used rather than life insurance for children. Investing in a savings account to cover the costs which are associated with a funeral, as well as the costs of the lost wages for a parent can be an effective way to prepare for the future, but also allows you to have versatility when it comes to the various life insurance plans.
Through the internet, you can find a variety of information that is available when it comes to life insurance. You can find information through the comparison of various plans, as well as learning about which policies are best – and even more information that can be learned about life insurance for children. Websites like Life Search provide you with all of the information that you need while learning about life insurance.
Rural Insurance
Rural insurance polices need to cover a wide range of areas, so it is best to take professional advice when possible.
But to give a guide, most policies will seek to offer insurance cover for crop damage, farm liability, horses, livestock, motor vehicles, personal accident and property.
To take a quick look at each area in a little more detail, let’s start with crop damage.
Crop damage insurance basically comes down to hail crop damage and this can be tricky to prove on ocassions, so it is recommended that even samples of the hailstones should be rushed to a freezer and kept there. Also, all hailstone claims have to be made within three days of the loss. If not, then the claim will not be valid.
To make a claim on equine insurance, requires the support of a veterinary surgeon being in attendance at some time during the illness, or at the event of a death. It is crucial that a full report is prepared and lodged with the insurance company as quickly as possible.
Farm liability covers those accidents and injuries that might occur on the farm. Some degree of record keeping is required here, as all injuries to employees, no matter how small, should be noted within an accidents/incidents book.
Livestock insurance is quite complex, as any loss adjuster needs to be sure that the claim is valid and there are quite a few exceptions. And in this the owner will need the help of a veterinary surgeon and must ensure that they inform the necessary authorities, such as DEFRA, regarding any diseases which are notifiable, or comply with restriction rules, or movement licenses. As with all insurances, you will need the support of an expert, or professional, to support your claims.
Motor vehicles can cover the private vehicles by the rural property, or those vehicles used by the business, and are much like normal vehicle car insurances, but will obviously cover certain other situations and circumstances. What is crucial for many rural properties and businesses, is having good theft cover. Farms are especially the target of well-organised thieves and gangs operate almost to order, stealing high value tractors and other items of farm equipment for re-sale throughout mainland Europe. There have also been cases of stolen tractors being transported to Australia for customers. And with modern day tractors often costing in excess of £40,000, it is clear why there is such a black market for farm equipment. It is vital therefore that a good theft insurance is in-place.
In the event of a personal accident on the rural property, then it is essential that a doctor can support a diagnosis and prepare a brief report on the incident.
Rural Property insurance needs to be taken seriously and needs to cover both the home and any business connected to the rural property. This should cover theft, accidental damage and vandalism.
As with all insurance policies and cover, it is essential that comprehensive reports and facts must be kept so that claims can be expedited with the loss adjusters.
Heritage Home Insurance
Heritage home owners understand that they need insurance cover which takes into account the often unique properties in which they live.
A good insurance company will have a complete understanding of what is required to offer a comprehensive policy for heritage homes, which should also include contents and personal belongings cover.
A heritage home is one that is regarded as being of historic interest, and might include old farm houses, thatched properties, timber framed houses, barn conversions, stately homes, country pubs, hotels, or shops. And indeed, might include monuments and other structural oddities.
And, because heritage homes are often thatched and timber framed, the chosen insurance company must have a great deal of experience when it comes to such structures. Many insurance companies do not appreciate the special nature of thatched properties and you should be careful of policies which exclude such parts of the structure. And there’s no point in discovering this problem when it comes to the claim.
And the policy should be very flexible, providing different types of cover for say a range of buildings, uses and contents that should be applicable in the U.K. and overseas.
You should also think about choosing an insurance company which is itself regulated by the various insurance trade bodies and the Financial Services Authority.
You have to bear in mind that organising insurance for a heritage is a more complicated and more time consuming affair than arranging insurance for a more modern property.
Such things you should consider when thinking about heritage home insurance includes:
- current market value;
- rebuild cost values;
- maintenance costs;
- security issues;
- fire prevention preparation;
- how many valuables are involved (works of art etc);
- connection to an operating business.
And the last point is very relevant to most owners, as many heritage buildings also house busy businesses.
In this case, owners have another and more complicated dimension when it comes to arranging good insurance cover. Such things to consider include:
- type of business involved;
- business turnover;
- number of staff employed;
- dependence of business on building;
- necessary equipment breakdown cover;
- risk management reports.
So, there are a wide range of issues and complications that have to be considered when arranging heritage home.
It’s best not to think that any old insurance policy will do for your valuable heritage home.
Estate Insurance
For those looking for good estate insurance, the key is to find cover that is both comprehensive and flexible. And to get an insurance company that will work on your behalf to cover the wide ranging risks involved in owning and managing an estate.
To keep up with the large number of government regulations, initiatives and laws, both in the U.K. and overseas, you have to select an agent who is up-to-date with the latest legislation and who will act on your behalf. This might mean that they have to travel outside of the U.K. to look after your affairs.
Above all, flexibility is the key. The insurance company should be able to offer you clarity in their dealings and provide information in a timely and informative manner. This might be able to quickly identify the status for each of the tenants and their particular requirements.
You will need help and cover in the following main areas: contents; engineering; latent defects; legal expenses and indemnity; loss of rent, or income; public liability; service charge; threat of terrorism; and, unoccupied buildings.
Depending on what your estate consists of, coverage can be obtained for residential estates, commercial estates, or mixed residential and commercial estates. This might include DSS residences; holiday home lets; homes; hotels; industrial units; offices; professional tenants; sheds; shopping centres;
student accommodation; retail units; and, warehouses.
And if you run your estate through a company, it is best to consider specific commercial insurance. Polices in this area will cover such things as business interruption due to accident, or sabotage; company vehicles and their contents; personal accident and, stock deterioration.
Combined liability insurance will cover further items, such as employer liability, public liability and products liability. For those that need to be covered in their work practices, there is also professional indemnity insurance, which can include breach of copyright, confidentiality and loss of documents. And directors and officers liability insurance can protect those executives working on behalf of the estate from personal culpability claims.
At the very least, your estate insurance policy should cover a number of key elements.
This might include computer insurance which, although not on the top of everyone’s list is crucial, as the theft of computers and digital files can be a nightmare for any estate. This can also cover technical problems as well.
Contract works insurance covers say work on building sites and any losses that might be caused by theft, or structural damage. It also covers against public liability during the time of the building works.
To cover against financial loss, then credit insurance can help as it can offset the effects of financial loss due to the financial problems of others. Along the same theme, fidelity insurance can help cover against any of your employees being dishonest, or committing fraud.
If you have equipment on the estate, then engineering insurance covers plant and machinery that may be owned, or on hire. And for those involved in contractual arrangements, then legal expense covers legal awards and defence costs arising from disputes. If you expect problems over the title, or development of land, then legal indemnity insurance can help with this area.
And, for the owners of estates who might be high net-worth individuals, a combined household insurance can cover the belonging assets of affluent home owners.
Don’t Hesitate When Making An Insurance Claim
More and more people are complaining to the Financial Ombudsman regarding claims on their insurance policies. There appears to be some confusion about what exactly is covered in a policy and how a claim should be made.
According to the Daily Mail, here are some tips to help ensure your insurance claim goes smoothly:
Car Insurance Claims
- Immediately call 999 if you, or someone else, have been injured or there is a road traffic danger. Also, if you experience a hit and run or the driver is intoxicated, call 999 straight away.
- Avoid claiming it was your fault in an incident. Do not offer to pay for damages. Leave this to your insurer and if the other person tries to do the same, be sure to tell your insurer.
- Be calm and write down the time and date of the incident as well as any names, addresses, phone numbers of those involved, including witnesses.
- Ask the other driver for their car insurance details as they are required by law to share this information with you.
- Grab your mobile phone and take snap shots of the scene, the vehicles involved, etc. in the event the other driver tries to shift blame.
- Write down as much information as possible whilst everything is fresh in your mind. This may include a sketch of the street layout, the weather conditions, if there were witnesses, where you and the other driver were before and after the accident, and so on. The point is to detail as much as possible while you can remember.
- If police arrive at the scene be sure to ask for their names and ‘collar numbers’ so you can pass this information on to your insurer as well.
- Don’t hesitate to inform your insurer immediately
Home Insurance Claims
- If you suddenly experience a problem, like a leaky pipe, call your insurers straight away. Your instinct may be to call a plumber but your insurance firm may have a list of local emergency assistance companies who can get out to you very quickly.
- Double check your policy to find out if any emergency assistance is covered.
- Be sure you understand the conditions of your policy. For example, if your insurer says to submit claims within 48 hours, then you should heed this advice to the letter.
- After emergency repairs are underway, take photos of the damage and provide as much detail as possible so your insurer can process your claim quickly.
- When it comes to personal items be sure to save receipts in case you are asked to provide proof of purchase. If you own expensive or valuable items then double check your policy to see if they would be covered.
- Avoid over exaggeration of damage to your home or belongings. Intentionally falsified information could lead to a full rejection of the claim.
Travel Insurance Claims
- Be sure to tell your travel insurance provider up front about any health issues, including those that require medication. In the short term you could be paying more but if you need to make a claim and you did not mention pre-existing conditions then your claim could be rejected.
- Make sure your travel insurer offers a 24 hour emergency line and keep this number handy
- If a theft occurs be sure to report it to local police within 24 hours. This record will help you in your claim. If you wait til you arrive back home it could be too late to receive compensation.
- In the event something happens whilst staying at a hotel for example, you may need a letter from them to corroborate your story.
- Be sure to write down what happened, the circumstances, where you were, at what time, etc. Did you take precautions to avoid this loss? If so, let your insurer know you were acting responsibly.
- Be aware of any excess you must pay when making a claim. If your loss is less than your excess you may just want to avoid making a claim at all.
Remember, you have a right to complain about rejected claims from your insurer. Simply contact the Financial Ombudsman Service at 0845 080 1800 or send them an email at complaint.info@ financial-ombudsman.org.uk
related keywords:carinsuranceclaims, homeinsuranceclaims, travelinsuranceclaims
Lack Of UK Indemnity Insurance Puts Patients At Risk
According to the UK’s leading medical defence organisation, the UK is one of the last countries in the EU to carry on with an outdated system of indemnifying doctors. As a result, current policies could lead to a higher and unnecessary risk to patients being uncompensated in the event of clinical negligence.
In the majority of developed countries, including large EU member states like France and Germany, doctors and dentists are required to have professional indemnity insurance to protect their patients in the event of negligently being harmed.
There is insurance in the UK however, there is also “discretionary indemnity” which allows the practitioner to “request assistance and have the request considered”, says MedicalNewsToday.com.
The Medical Defence Union, which provides its members with a clinical negligence insurance policy, feels the current lack of indemnity insurance regulation is detrimental to UK patients and doctors alike.
MDU chief executive Dr Michael Saunders said, “In this current medico-legal and economic climate, we cannot understand why the UK still allows unregulated indemnity. The UK has fallen far behind other EU states on this. A German patient who was treated in the UK and negligently harmed by a doctor who was reliant on discretionary indemnity might not be compensated if the indemnifier decided not to assist with the claim. Of course, a German patient who was treated and harmed at home by an insured doctor would receive insured compensation. There is now an opportunity to resolve this anomaly.”
“When damages are awarded in negligence cases it is imperative that patients know they will receive the compensation due to them. The UK has some of the most forward-thinking and technically advanced doctors in the EU but discretionary indemnity is distinctly last century.”
What do you think? Would you feel more comfortable if your doctor or dentist had professional indemnity insurance in case of accidental or, God forbid, intentional negligence?
related terms: indemnityinsurance
Fortis UK Insurance Division Not To Be Sold
In spite of Fortis taking on a similar fate to UK and US banks, they are not planning on selling their UK insurance division despite pledging to sell some of its other assets as part of the bailout deal.
Fortis said the group’s partial nationalisation had not affected its UK division and told their clients not to be concerned by saying, “Their policies will not be impacted in any way and we remain committed to putting their needs first”.
Joint funding efforts from the governments of Belgium, Luxembourg, and the Netherlands amounted to an 11.2 billion euro bailout plan to save Fortis from collapse. Compared to the UK and US, Fortis is Europe’s first bank to require rescue efforts as it becomes one of the latest victims of the approximately 14 month credit crisis.
Last year Fortis’ UK group accounted for £757.8 million in gross written premiums with nearly half that amount (£375.3m) written the first half of this year alone. Profits so far this year have been strong with first-half figures around £43 million, an increase from last year’s overall profit of £29.5 million.
Fortis UK has over 6.7 million customers and claims to be within the top 5 insurers for products ranging from car insurance to travel insurance and life cover.
related terms: fortisuk, fortisinsurance
Wealth Of Average Brit Means Easy Target For Muggers
According to Zurich Insurance the ‘walking wealth’ of the UK has reached a massive £44 billion making Britons an easy, and lucrative, target for muggers. In its “Walking Wealth Survey” Zurich shows that the average Brit will carry around £972 worth of personal items every time they go out in public.
This is an increase of 14%, or a rise from £851 to £972, since 2006. As the UK becomes more and more a culture of wanting the latest gadgets or fashion, it means we’re stepping outside with expensive goods like ipods, the latest mobile phones, blackberries, designer handbags and clothing, and so on.
Women are considered to carry around higher value items with an average value of £1,032 whilst men come in almost £200 less at £828. Believe it or not, It’s the Scots who carry the highest valued items with an average of £1,027 as opposed to their counterparts in the south of England who carry fashionable goods valued at around £916.
Mike Quinton, managing director for Direct & Partnerships at Zurich said, “The majority of people in the UK are not aware of the real value of the belongings they carry on them. We all need to be vigilant and make sure we’re discreet with these expensive items to avoid being targeted by muggers, especially during the summer when people often become complacent while relaxing in parks or on the beach with friends and family.”
Top tips from Zurich insurance to keep your personal items safe:
- Avoid wearing flashy jewellery on public transport or in badly-lit streets or cover it up to avoid tempting muggers
- Keep mobile phone usage discreet
- Keep music gadgets well hidden – don’t take them out of your bag
- Make sure that you have personal possessions cover covering the items you have on a daily basis
- Limit the amount of cash you carry on you, when going out
- Consider carrying just one payment card on you rather than both debit and credit cards and additional store cards
