The UK Insurance Blog

Now that we find ourselves in the midst of the summer holiday season, we’d better get on with it or before we know it, it will be finished! Joss Harwood in his article “Relish your holiday but avoid any pickle” discusses what we should do in the event of anything going wrong on holiday as well as how to minimise the effects of potential disasters before you set off.

The article observes a number of things that we ought to do before we set off on holiday, that we don’t do. With regards to money, be aware that withdrawing cash from an ATM often incurs an additional charge of a minimum of £2 to £3. Stretch your money out by not withdrawing small sums. It doesn’t make sense to take out small amounts like £10 when you have to face a thirty percent charge.

Another money saving pointer! If you are going abroad, save money getting your currency converted by using the people who don’t charge commission such as the Post Office!

If your mobile phone gets stolen, you should report this to your provider immediately so they can block your account. As all calls made on it are your responsibility until you report it stolen, a good tip is to remove your SIM card and place it in your wallet, then place your wallet securely about your person. An alternative s to get a limit put on the phone. To do this, you will need to speak to your provider too.

In the event of something going wrong on holiday where you need hospital care, do not panic for you will have already given consideration to the following details before your trip (hopefully!). In Europe (or specifically a European Economic Area or Switzerland), you will need a European Health Insurance Card (EHIC). Obtained from the Department of Health, one of these cards will entitle you to the treatment and care that you would receive in the UK. Unfortunately we do not have a reciprocal arrangements with the US so if you were to require hospital treatment, you had better have adequate travel insurance.

While sorting out your travel insurance cover, you should take into account, your valuable belongings like your passport and money as well as luggage and delayed or cancelled flights. Make your motor insurer aware of any plans to take your car abroad, as this may affect your cover. While you are at it, ensure you have suitable overseas breakdown insurance also.

In essence, the things to do before you leave include making a list of important telephone numbers in case a credit card gets stolen or you lose your mobile phone. Make sure you also have the details of your travel insurance company. Ensure you have your EHIC and any car registration papers, green card and emergency numbers for breakdown. While away, leave your pet insurance documents with the kennels or cattery and entrust your house insurance details are left with a neighbour or trusted key holder in case of problems.
That is about it. You are now ready to embark on your holiday!

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It is a fact, about 7 million British adults have never ventured abroad on holiday! I’ve just read this interesting article by the people at Sainsbury’s Travel Insurance who are pressing the point that people should still take out holiday cover when enjoying a break in England. If you have your holiday at home, it’s a common misconception that people tend to think you don’t need to worry about travel insurance. Accidents happen at home too, don’t they, not to mention theft, travelling delays and lost luggage.

UK holidaymakers account for fifty million of the holidays (whether mini-breaks or weekends by the sea) that are taken in Great Britain, people are realising, there’s more to a holiday than wasting time queuing up at airports and deciphering menus in strange exotic languages. The problems that can happen abroad can happen here too so the Travel Insurance people at Sainsbury’s Finance have a point when they state that domestic holidaymakers should not overlook the value of sufficient insurance cover. Unforeseeable events that can ruin a holiday can include holiday cancellation due to illness or worse, theft and lost property. Every year, British holidaymakers in the millions will make claims on their travel insurance. If you are ill on holiday, travel insurance will ensure you receive the care and attention that is needed such as after your treatment returning you to your home safely. If in doubt of whether you will need travel insurance this year. Sit yourself down with a piece of paper and write down all the things that could go wrong. With the gift of hindsight, what would we choose, sleepless nights or peace of mind ?.

In his article, “Caught short in Europe”, Ali Hussain urges motorists to check their insurance cover before they set off for Europe.

Check your fully comprehensive driving insurance before you go, it may not be as fully comprehensive as you would like it to be! Many travellers find themselves abroad with less cover than they need or worse, without cover at all!

Do not assume anything! Many companies including the RAC, Norwich Union Direct and Direct Line provide third party cover ONLY once you leave the UK. An additional premium is necessary in most cases while some companies require you to inform them prior to your trip.

Sheila’s Wheels’ research revealed that out of the 4.3 million British motorists who are set to drive in Europe this year 15% ASSUME they have full cover from their insurance company. This is frightening! Always ring up your insurance provider informing them of your trip and that you will need to extend your cover.

Do not assume anything! The market analyst, Defaqto revealed that 61% of comprehensive policies do not actually cover breakdown in Europe. Those offering cover for Europe as a standard feature account for only 11%. Third party cover is only standard thanks to EU law, where damage is paid only to another motorist when involved in an accident. This type of cover does not protect you against accidental damage, theft and personal injury.

While comprehensive insurance can be provided as an extension, how much insurance companies charge for it can vary considerably.

Direct Line, Admiral and Diamond offer differing rates that depend on the length of cover required. Barclays charge about £21.90 for 90 days of cover. Diamond will sell annual cover for an extra £34.50. Admiral will charge £9 for four days and £17 for thirty days. Marks and Spencer, Churchill and Endsleigh offer free comprehensive cover for up to 90 days per year.

Free annual cover is available from Ecar and SAGA. Don’t rely on price comparison websites because they can be deceiving. The insurance companies featured can often provide different versions of their policies so they stand out on the tables. For example, the Norwich Union Direct charge £26 extra for 90 day cover abroad although via a broker, the whole trip cover is standard with no extra charge. The cost for normal cover is more likely to be more expensive overall however. While you are at it, check there are no restrictive clauses concerning numbers of consecutive days you can drive abroad.

A couple of other things mentioned in the article, that we should all be aware of when driving abroad include alcohol levels, speed limits and general safety.

Europe is much tougher on alcohol levels than the UK, that everyone has to wear a seatbelt and that speed is monitored regularly. If caught driving 25 kilometres per hour more than the speed limit, you could face an on-the-spot confiscation of licence and you’ll certainly get an on the spot fine (yes, they do take credit cards). Do yourself a favour and read up on the European Highway Code before you go.

An interesting article about young drivers paying more for their car insurance reveals some very interesting facts and figures.

Age does make a big difference – its official! A recent uSwitch.com survey revealed that if you are a young driver you have to pay double the insurance other motorists have to. These are the lucky ones, some don’t manage to get cover at all.

Things may have to change soon though thanks to a new Equalities Bill where restrictions and bias exists that is based on age. The car insurance industry will have to sit up and pay attention. As it stands, it is unfair that young drivers, who make up 7% of the driving public, have to currently pay 22% of all premiums across the chart. Younger drivers are considered a greater risk and pay more for this reason and because they can’t resist sportier cars like a GTI. Insurance for a young driver driving around in a GTI is usually about £4,000. If you are young, stay away from the sporty numbers!

If you shop around, it is possible to get fully comprehensive cover for a more sedate vehicle for £459 although young people would expect to pay just under a thousand pounds. It is worth shopping around!

Over the last ten years, car insurance has risen by 122%. Insurance for an eighteen year old to drive a Volkswagen Golf E (price tag £4,295) for third party fire and theft, is currently about £1,336 but should you go fully comprehensive, the price of insurance will hit £6,652.

Although young people only account for 7% of the car insurance market, they account for 16% of overall accidents while under 21 year old account for 34 % of dangerous driving incidents. When young male drivers are more likely to have a motoring accident than anyone else it is not so much of a surprise that their insurance premiums are substantially higher than others.

Good news though, big premiums do not last forever with good behaviour. In the event of a year’s driving without making a claim premiums can drop quickly sometimes by as much as 90%.

Speaking from uSwitch.com, an insurance expert pointed out that the new Equalities Bill could mean the end to extortionate insurance premiums for young drivers. This is a fact despite evidence that younger drivers are a greater risk on the roads. If this occurs, will low risk drivers have to pay a higher premium as a consequence subsidising the less experienced driver. Another worry is that with a lower premium, the boy racer will have nothing in his way to stop him buying a sportier more powerful car. This would not be an ideal situation.

The message to all young drivers is that if you shop around, you should always manage to get the best deal for your car insurance. When seeking out low premiums look for one that specialise in young motorists. The company Swinton has recently established a special 6 month policy for new drivers who have just passed their test. After not making a claim for six months, you get a thirty percent discount on a year’s insurance. The rewards keep coming if you make it to 18 months without making a claim, your discount increases to 45%.

Insurance premiums can be exorbitant or if you do your homework, they can be very reasonable. Get online today and save those pounds!

Getting ready for Festival Season? Make sure you are insured! An article by Zurich Finance states that the last thing festival goers tend to think of when planning a trip, is purchasing contents insurance. Seventy five per cent of festival goers do not take out any kind of insurance when attending an event.

Speaking from experience, festival people are more likely to lose a mobile phone or an MP3, states Zurich Finance. Goods up to the value of £3 billion are expected to be put at risk at music festivals throughout the summer. The article discussed the merits of a music event as a target for thieves. People attending an annual music festival tend to go armed with mobile phones, digital cameras, iPods and MP3 players. Overall then (including any cash people may have on them for the weekend) individuals have items amounting to a collective value of about £260!

People take risks with their possessions leaving personal and valuable items in tents while they wander off for a few hours or they carry phones in their back pockets where they can easily be stolen.

Insurance companies recommend that anyone attending a festival should think seriously and get some insurance cover protecting items against theft, loss and damage. Additionally, they advise that you should leave all debit and credit cards tucked away safely at home (ensuring that you have home and contents insurance). Get yourself equipped with personal possessions insurance for protection of all that you have brought with you to the festival. If you must bring very valuable items with you, check out the availability of a secure lock-up.

When surveyed, one in ten people had personal items stolen at a live music venue or event. Spare a thought for losing YOUR favourite bits and pieces. If you don’t insure your trusted mobile phone, camera or iPod, you are very likely to regret it later on.

Sunday Times Travel magazine readers have recently voted Bath, the sixth best city in Europe according to the article “Bath – everyone’s favourite city!”.

The article states that not only has Bath been hailed one of Europe’s most beautiful cities, it’s Thermae Bath Spa has been voted the finest retreat in the UK and it’s Royal Crescent Hotel, the accolade of the UK’s best hotel.

A popular UK beauty spot that enjoys about 3.8 million daytrip visitors a year, the World heritage Centre of Bath is packed with beauty spots and culture. There is the 18th century Pulteney Bridge, the Roman Baths, the Victorian Art Gallery, a wealth of other galleries and museums, five theatres and is something of a festival city to boot. Throwing open its doors every year to events like the Bath Literature Festival, the Bath Beer Festival, the Mozartfest and many more, this is a city constantly on the go.

All this could go to your head. The Sunday Times Travel magazine pointed out that a stay in the Royal Crescent Hotel was “akin to spending the weekend with Mr Darcy”. But while wandering about the streets of Bath completely immersed in the world of Jane Austen, Neil Laird of Sainsbury Finance noted it was easy to be distracted from the serious business of travel insurance. He pointed out that the unfortunate events that can occur during a holiday overseas can happen during a domestic holiday too. So be prepared and don’t let it spoil a great trip!

What with all the Big Brother 9 mayhem going on, at times you’d be forgiven for wondering how much the Big Brother house costs to insure. An article published recently in PR Web shines a little light on the matter.

This is one unpredictable house. You never know what’s going to go wrong. One thing you are sure of, that something WILL go wrong! Furniture often gets wrecked, accidents happen and tomfoolery is at its worst as the world sits back in its favourite armchair and watches the foolhardy shenanigans of the Big Brother housemates. To all intents and purposes the contents of the house are designer label or specially crafted for the year’s intake, so what would the creators have to pay out for house insurance. In the article, ‘Confused dot com’ provide some answers.

One positive point is that flooding is not a problem, despite all efforts by the raucous inmates. The location of the famed Big Brother house is beside the Elstree film studio water tank where Moby Dick was filmed. There is not likely to be any flooding, so no flood risk added to the insurance cover. Good start.

Smoking is not allowed in the Big Brother 9 house, so it’s a home insurance quote for a non-smoking household. In actuality, the local council defines the Big Brother house a place of work, in which case, if a contestant was to smoke indoors, the programme would have to fork out £2,500 each time it happens.

The security of the Big Brother house is not a problem. While many houses rely on a security alarm system, window locks and double locks galore, the BB house has 24 hour seven days a week security monitoring via CCTV as well as security guards and dogs.

Contents insurance is set at an amount much less than normal at £50,000. In the Big Brother house, there are no accumulated personal items although furniture and appliances are usually top notch expensive items.

To top it all off, Big Brother’s building is insured for £500,000 which is equal to the build value.

All in all, things could be a lot worse for the money people at Big Brother!

I’ve just stumbled upon a news article by Co-operative Insurance  about the Brits preferring to drive on holiday.

 Fed up with wasting precious holiday time in busy airports or merely looking for more adventure out of a holiday, the British holidaying public want to be more independent. But they are not checking it out properly first, or so it would see. Holidaymakers driving instead of flying have increased recently by 32% although there is a problem. People are not bothering to find out about international road use as well as acquiring adequate insurance cover. Only 77% of drivers abroad will become well informed of foreign highway codes and insurance legislation. Sounds like we need to pick our socks up before something goes wrong!

 Would you know what to do if you had a road accident abroad? I wouldn’t! According to this article, about 64% of people admitted they would not know what to do. To minimise the effect of an accident, there are several steps we should take before we set off on our holidays.

 Before you do anything else, dig out that passport then get insurance cover, not only for the journey but for medical and legal expenses, personal accident and additional property if required. Secondly,  ensure you have good travel insurance too. Thirdly, you’re going to need breakdown cover. Check that your cover will include other destinations as well. Fourth point, ensure your existing cover is good up to and including your return to the UK. Fifth point, consider whether or not you will need a Green Card. For those not in the ‘know’ a Green Card is an International Motor Insurance Certificate. Effectively, this will provide you with the same motor insurance cover abroad as you are paying for in the UK. Last but not least, don’t forget to pack your toothbrush!

I was reading the Hartlepool Mail and stumbled upon an interesting article about starting up in business. As someone just beginning myself I found it helpful. Apparently too many of us go diving in without a thought for planning and preparation. This article stated that about fifty per cent of new businesses fail within three years. What do we need to do to succeed? What are these failing business doing or not doing that they should?

According to the article, when setting up your business there are a few things to take into account, which in the end could be your saving force.

What are the golden rules in business? We need to know what they are to succeed. The article mentioned the best thing to do before starting was to prepare by seeking business advice and that this would be best heard from reputed organizations like Business Link and Business Gateway. These places would be able to recommend to practicalities of a business plan.

Right at the beginning you need to look at your personal qualities and how far you are willing to push yourself to make your new business a success. If you need to work day and night to get it off the ground, are you willing to do this? Are you happy to go out and find out if people really would buy your product? It is incredible how many new entrepreneurs believe they can work round the whole market research area. Without research preparation, you will not know your target market. Without knowing who your customers are, how will know how to reach them to sell your product? Will anybody even be interested in your product? It is a ‘Catch 22’ situation. You have got to do your market research!

Make sure you mug up on taxation too. Will you be registering for VAT and PAYE? What business insurance cover are you going to require? Get it all planned out at the beginning and there will be no scary surprises later on.

The message is clear, save yourself sleepless nights later on by being prepared and ready for whatever comes your way.