Insurance, Claims & Accidents

Travelling during the golden years can be magical. These travel years can also prove to be difficult or expensive when it comes to purchasing travel insurance. No matter how healthy you are, many insurance companies view those over 65 as high-risk. It has become progressively more common for insurance companies to increase their premiums for people as soon as they turn 50.

The largest concern for insurance companies is the health of the individual. Healthcare costs in other countries can be astronomical. If a policyholder uses the medical portion of their policy, this could force an insurance company to pay thousands or even millions in healthcare costs. The Foreign Office has noted that one air ambulance trip in the USA can cost as much as £35,000.

Travel insurance companies realise there are some benefits to insuring those over 65. This age group is less likely to participate in high-risk activities such as skydiving or bungee jumping. Policyholders over 65 are also provided with more health coverage than younger policyholders. They are also given more coverage for items such holiday curtailment and flight cancellation.

When applying for travel insurance, the best thing you can do on your application is be honest. In the event you should have to make a claim, the insurance company will go back into your past medical history. If they find a false answer, they will have reason to find your claim invalid.

Life insurance plans are a way of ensuring your next of kin are financially stable after you die.  This means that the money saved in the policy can be put towards any funeral expenses, saving your loved ones from financial stress.  It is different from other kinds of insurance in that it is a fixed policy paid throughout one’s life and a claim can only be made when the policy holder dies.  It is only really worthwhile taking out a life insurance policy if you have dependants or perhaps if you have an elderly parent with a poor pension plan. 

Insurance companies will ask a number of questions before giving you a quote on life insurance.  Usually these questions include details about your age, general health and family medical history, as well as your occupation and any risk-driven activities or hobbies you take part in regularly.  Policies will usually be paid over a total of twenty-five to thirty years and no more payments need to be paid after this period.  This depends on the policy provider and some research is required before picking the policy that is right for you.  The policy will almost always only be paid out when the individual dies.

As a general rule, those who are in poor health will expect to pay more than those who are generally healthy and those who take part in risky activities such as sports will pay a higher premium than those who do not.  In addition, the older you are, the more money you are likely to pay monthly.

Personal and business life is never immune to mishaps and the worst of these are those that impact directly on your property if you are a landlord. As a landlord you have a duty to ensure that your tenants are protected and having landlord insurance acts as the desired buffer upon which you can depend if disaster strikes. This type of insurance protects you from all the different types of eventualities that might occur to your property when it is not directly in your daily care.
 
Protection from financial loss through fire, theft and damage is the main reason that people find it essential to have landlord insurance. It is not only the disastrous effects on the property that come from these disasters but also the direct financial impact that is often a result. While it might seem that these occurrences are not as common as they appear, landlord insurance protection is better than running the risk.

There are no guarantees that your tenants will treat your property with the same respect that you might have given it, should you have been resident. This could easily mean that you might have to deal with all the repairs and damages caused by your tenants after they have vacated. In some cases the damage can be greater than their deposit will cover. Landlord insurance then ensures that you are able to get your property back to its rentable state sooner rather than later.

You have home insurance, but now damage or loss to your property has occurred. Sensibly, the first step is to call your insurer. Most companies have an emergency phone line available. It is a good idea to store this number in a secure and easily reached place. You do not want to be rummaging around for the phone number during a time of crisis.

If you are not sure what your cheap home insurance policy covers, now is the time to check the policy and determine if you are indeed covered for the damage or loss that has occurred. If so, you should then clarify under which policy to make the claim. If the damage or loss occurs to the structure of your house or its fittings and fixtures, you will make the claim under your buildings insurance policy. If the possessions inside your house have been affected, the claim is placed under your contents insurance policy.

During your initial phone call with your home insurance company you will need to explain what occurred and then request a claim form. This can usually be done via email. You will most likely have to return the claim form with estimates regarding the repair or replacement of the building or its contents. Do not throw away any damaged items, and also ensure to take photos of all damage to your buildings or possessions.

After receiving your claim, an insurance company can decide to either spontaneously pay the claim, send an assessor to determine the amount they believe is sufficient, or send a loss adjuster to advise you on repairs or replacements.

There are some types of liability insurance that need to be in place for very specific circumstances. Sometimes they are included as a clause within the main type of liability insurance a business has. Examples of this are pollution and also property liability insurance.

Most public liability insurance policies will cover normal types of pollution for which a business may be responsible. This will cover any damage or ill health that could be caused by the pollution. However, for one-off incidents that are not typical, more specific pollution liability insurance is needed. This can occur in industries where there is potentially a high risk of an incident occurring, such as the oil industry. These companies will normally need a policy especially for them such as environmental impairment liability. These are designed to cover a whole industry sector or a very specific business. Clean-up costs caused by pollution, damage to property and any sicknesses caused are covered by these policies. The Environmental Agency is responsible for regulation in this case.

Property owners’ liability insurance covers any damages or injury caused while on the premises of a business, or which might be linked to the premises in some way. For individuals who own their own homes this will normally be part of general household insurance. For most companies, public liability insurance will include this. However, if a business is conducted in a place owned by a landlord, one or the other of the parties needs to make sure proper property owners’ liability is in place.

When you take out a new home insurance policy you have two choices. The first is to pay the whole amount in a single lump sum. The second is to pay it in monthly instalments. The latter choice can be easier for many people to manage.

When you compare home insurance policies, make sure you look to see how many monthly premiums you have to pay. In some cases the insurer will give you a month or two of free cover if you pay a monthly premium for the rest of the year. A typical example would be to pay for ten months in a row, and then have two months where no payment was necessary. However you would still have full insurance cover for those two months before you need to compare house insurance policies again.

This can be a useful payment holiday. In some cases there are insurers who have special deals to give you three month’s worth of free insurance cover when you buy a house insurance policy. This is good to think about when you are planning ahead and structuring your finances. You can put the equivalent of the premium into a savings account for the remaining months. Alternatively you can simply enjoy an easier path through your bills for the months where you have free cover.

It may be tempting to put off buying car insurance for as long as you can, especially if you do not drive a great deal.  Getting cover can often be fairly expensive and it is easy to convince yourself that your chances of being in an accident or needing to claim are small, but neglecting to get protection can turn out to be a very serious mistake. 

In fact, recent laws passed in the UK mean that owning an uninsured vehicle is a criminal offence, even if it is not going to be driven.  Motorists must now choose to either take out a car insurance policy or officially declare their vehicle as off the road, or they could end up facing a fine or other penalty. 

Even if there were no risk of getting into trouble with the law, driving without cover would still be a risky business.  No matter how confident you are in your driving, accidents do sometimes happen and it is wise to be prepared just in case.  There is also the possibility that your car could be stolen or vandalised, which could result in a significant loss of money if you do not have any cover. 

If you are a car owner, it is a good idea to make purchasing car insurance one of your top priorities.  It only takes one journey to run the risk of having an accident or being pulled over by the police, and the repercussions of this are likely to be a lot more painful than paying for cover.

Cats and dogs are probably the two most popular types of pet to keep and thus there are many pet insurance providers who have a good knowledge of what is required in terms of cover for their health.

Veterinary services do not come cheaply and so it is important to consider carefully the most suitable policy for the pet. Cats and dogs, in the normal run of things, both have relatively long life spans and thus are at risk of developing conditions like diabetes or thyroid problems, which could last for many years.

Another insurance aspect worth considering when examining a policy for a cat or a dog is whether to take out a policy that assists if the pet goes missing. Lost cats appear to be quite a regular feature in many neighbourhoods, and though dogs do not appear to go missing that often, it can still be a traumatic problem.

Cats may also be more liable to have accidents when they are outside the house as they generally have the freedom to roam wherever they want. It is important to check the policy cover to ensure it is providing exactly what is needed.

Another point to consider is what happens if the pet, more usually a dog, injures somebody else, either in the house or out in public. Most dogs are walked on leads in built up areas, but it important to be aware that accidents can happen when they are in the park, for example, and it is best to be prepared for any eventuality.

A surveyor is used to check a building’s structure before any property purchase is finalised. Vigilance in these checks is more applicable for older properties as their structural integrity is often compromised by their age.  As a landlord you have a responsibility to ensure that the building structure of your property is sound before you offer it to any potential tenants. However, there is always the unforeseen: landlord insurance will cover you against loss if such a disastrous event occurs.

There are many disasters that can play havoc with your building. Fire and flooding are two of the most prominent and expensive ones. The second is obviously more applicable when your property is located in a flood plain and good landlord insurance should be in place in case this disaster should befall you.
 
Being extra vigilant also helps to ensure that a fire does not end up ruining your profits by suddenly causing damage to your property or injury to tenants. Make absolutely sure that all the electrical and gas installations are 100% safe.  When these types of disaster do strike, money availability to start repairs becomes a serious issue: hence the need for good landlord insurance. Limited financial resources might end up forcing you to leave your property empty thus causing you to lose out on rent.

If you cater for these possibilities with landlord insurance you will be able to get back on your feet sooner rather than later. This way your investment can keep providing you with the income that was your initial reason for purchase.

Home insurance is necessary have for those that have made the huge investment in time and money to buy their own home.  It is important to obtain a good idea of the insurance policies on the market to protect yourself and your home, and this is where comparing house insurance quotes comes in.  Thanks to numerous internet comparison sites it is easy to find the best quote, but what should you be aware of?

When we speak of home insurance, we normally refer to two different types of cover, buildings insurance, and contents insurance.  Many insurers offer the two types together in a single package that could prove easier, but it may be better value to find the policies separately.
 
When looking for home insurance quotes, there are several factors to keep in mind.  Although it is important, the price should not necessarily be the deciding factor when buying protection for your home.  Write down what you need from your policy and remember these items when comparing quotes.  Be careful to understand what is and is not covered in each policy and weigh up the benefits of these against what you need.  It can be a long and complicated process, but it is certainly worth the extra effort. 

Once you have chosen, conduct some research into ways the insurer will allow you to reduce your premium.  There are various practical ways of doing this and it could help to purchase your ideal cover at the right price.