Insurance – what to keep when economising

July 17th, 2009

Everybody wants to cut back whether this means shopping in Tesco instead of Marks and Spencer, going on holiday in England instead of abroad or cutting back wherever we can. Many are looking at cutting their insurance premiums and according to the article “Insurance-what do you need and what can you live without?” rather than cancelling our policies, there may be ways to economise instead.

An essential insurance is car insurance. It is a legal requirement and the aftermath of an accident could prove very expensive without it. The only way to cut your driving insurance expense is to reduce from fully comprehensive to a third party policy, this way you will save a considerable mount of money without breaking the law. Don’t stop there either as you could shave another pound or two off the bill by shopping around for the most competitive price.

Consider next the effects of cutting your life insurance. According to the article, people who are free of dependants and debt could do worse than consider cancelling their life insurance policy. Keep it going however, if you fear for your children being saddled with your debts or being unable to support them should the unthinkable occur. If you are thinking of cancelling your life insurance do bear in mind that picking up a policy later on in life (when more health issues may possibly come into play) can be more expensive than if you were to continue with the one you have now.

Looking to economise on your home insurance? Take some good advice and leave it well alone as this is one type of insurance policy that is absolutely necessary. If anything you could be able to get a better price by shopping around and therefore even with this save some a few pounds!

While travel insurance is by no means mandatory, you ought to still have it. Shop around for the best deals instead of not getting any altogether. The same applies to pet insurance. Though not an obligatory insurance, the absence of a pet insurance policy could cost you a fortune in the long run. Again, shop around for the best deals.

Economising is a good thing but only when sensibly managed. These tips could save you some considerable dosh without cancelling all the protection you have.

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When holiday interruption pays insurance claims

July 4th, 2009

Many of us are being tempted away from our usual favourite Spanish resorts as we follow the bargain offers for the Caribbean, Florida and Mexico in the autumn. According to the article “Travel insurance limits Hurricane benefits!” many of the best deals are on offer during the hurricane season leaving holidaymakers wondering where they stand in terms of protection and insurance.

In the event of having to cancel a holiday or end your holiday early to avoid bad weather, many travel insurance policies only tend to offer the minimum of protection. On the positive side, many people holidaymaking during the hurricane season will not witness anything stronger than a sea breeze.

While it is rare that your travel insurance will cover any claim during anything other than a severe weather disaster, there are some exceptions to the rule.

What if you are aboard a cruise when a hurricane strikes? The good news is that ships are very likely to be able to steer around affected areas so you should be safe in the capable hands of the ship’s captain. Remember if your cruise liner uses a port that doesn’t feature on the itinerary to avoid sailing into trouble – there is some likelihood that your insurer will not entertain a complete refund. Although, depending upon the situation a cruise company may see fit to allow you an opportunity to reschedule your trip for another time.

On a further note, if you are concerned about your future travel, opt for a policy that will let you cancel for any reason. Be warned though, for peace of mind they do tend to cost you just that little more.

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STOP! Book travel insurance AFTER reading this!

July 4th, 2009

Travel insurance, what’s the big deal? At last, the moment we have all been waiting for has arrived, an article about travel insurance. By reading this article, you too can decide for yourself whether travel insurance is all it is cracked up to be.

The holiday season is suddenly upon us and as many of us consider the type of travel insurance we will require over 40% of us could be paying over the odds by purchasing cover through a travel agent. According to the article “Read this before buying travel insurance” many of us find taking out travel insurance with our travel agent saves ‘mucking about’ but are unaware that we could be saving money elsewhere. By shopping around for travel insurance we could save considerable amounts of money but we continue to take our policies out with the holiday companies.

One fact to bear in mind is that by no means is travel insurance an obligation when booking your holiday. Although it is good practice to purchase travel insurance as early as possible you do not have to get it at the point of booking.

What is a good travel insurance policy? Firstly, it should provide (at the minimum) a million pounds of cover for third party in addition to legal fees and five million pounds worth of cover for medical expenses. Thirdly, cancellation cover (without a large excess) to protect against the full cost of the holiday is very necessary. Note these points are essential cover, other types of cover such as for delays in departure, delay of luggage and cash are considered non-essential in comparison.

For the better insurance deal check out moneysupermarket.com for ease of shopping as well as to make some considerable savings.

Next when shopping for travel insurance to best suit your needs, compare all the excesses and exclusion factors of all policies. Be aware that more often than not, a policy will exclude pre-existing medical conditions. Beware also of policies that do not cover you for accidents incurred whilst under the influence of alcohol.

When putting in a claim for lost or stolen items be prepared to provide your insurer with a police report. In the event that police are not interested in your lost phone, check your policy for accidental loss also check if there is a possibility of making a claim on your home contents insurance.

When buying travel insurance, do not be fooled into thinking a policy is better than it is because it covers you for all kinds of incidents. Certain types of cover may not be as useful as first it may seem! Considering departure delay and whether or not this is a good thing added onto your policy could be a saving grace. Many insurers rarely pay out on this kind of incidental although Virgin will pay £25 after a delay of 8 hours and a further £25 for an 8 hour delay thereafter. If your holiday is delayed by 24 hours, the majority of insurers will allow you to cancel your trip and some will even allow you to cancel your holiday after 12 hours.

Last but not least, don’t allow yourself to be seduced into saving money by not taking out travel insurance, it is a false economy to not do so even in this time of credit crunching. Save money on your travel insurance instead by shopping around for the best deals!

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Posted in Travel Insurance | 2 Comments »

Swine flu quarantine warning for visitors to China

June 30th, 2009

If you are planning on visiting China in the near future you could face a stay in quarantine even if you don’t display any swine flu symptoms according to the article “U.S. warns travellers about China’s 7 day flu quarantine”.

In an effort to control the spread of the life threatening virus China are taking severe precautions and committing visitors to quarantine even though they do not show any symptoms of the bug. While the numbers of Americans facing China’s quarantine regulations are currently very low what is worrying is the unscientific process that the patient is screened.

Earlier in the month, New Orleans mayor Ray Nagin was placed in quarantine upon arrival in Shanghai. The mayor himself displayed no symptoms of the H1N1 virus although somebody aboard the plane did. Ray Nagin was placed in quarantine because he had travelled from a country experiencing a swine flu outbreak and because he was sharing an enclosed space with a passenger exhibiting flu-like symptoms. China have been observing a strict regimen with regard to containing the world’s latest pandemic as the country has been seen to place visitors in quarantine for no other reason than a slightly raised temperature.

According to the article, these quarantine regulations are particularly raising alarm following reports of parents and their children being split up as well as less than appropriate conditions being experienced in confinement. While reports have been getting back to the State Department of unsuitable drinking water or food others are relaying unsanitary conditions being forced upon travellers from the US.

In the event of travelling to China, it is stressed that all US visitors check their travel insurance provides protection against losses caused by unexpected detainment in Chinese quarantine.

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Know your rights as a holiday package consumer?

June 30th, 2009

If you are planning on going on your holidays this year make sure you do the following before setting off for the travel agent! When booking a holiday package it is important that we consider what will happen should we need to cancel or if your holiday goes completely wrong for one reason or another. Where do we stand?

According to the article “Good things come in holiday packages – if they’re bonded” we the consumer need to be aware of our rights as a holiday consumer and help is at hand!

The Package Holidays and Travel Trade Act 1995 states that a ‘package holiday’ should combine at least two of the following – accommodation, guided tour services and flights. Lastly, to be a package holiday you don’t have to go abroad as your trip can be inside the UK as well as outside of it.

It is absolutely essential that you book your holiday with a bonded or licensed travel agent in case anything should go wrong. With a licensed agent if they were to go bust all would not be lost and you would receive assistance.

When reading the brochure, ensure that the information you are seeing is not misleading you in some way. According to travel agent legislation all the information set out before you should be accurate and in no way misleading. It should be a case of what you see is what you will get as transportation, living accommodation and date information should be accurate.

A fundamental priority (when reading the brochure) is to make sure you are familiar with all information to do with holiday cancellation. Additionally, you should familiarise yourself with details relating to price, payment terms, itinerary, mandatory charges, health recommendations and amongst other things visa and passport requirements. Next check that you agree with all the terms and conditions (normally situated at the back of your brochure) and should be read with care as it includes all the facts about cancellation.

In a majority of cases the deposit will be forfeited when a holiday is cancelled after that, how much money is lost depends upon how much time there is between the dates of the holiday and when you cancel. If you read all the small print this will come as no surprise.

In the event of having to cancel a holiday, check your travel insurance in order to see if you can recoup any of your losses. Remember to buy your travel insurance at the time of booking your holiday but remember you can purchase this from another source if you require.

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Know the value of your designer wardobe?

June 30th, 2009

How many of us forget about the credit crunch when shopping for new fashion acquisitions? As well as losing all our money saving principles when faced with the sale of the century at Top Shop we have short memories when it comes to adding clothes values onto our home contents insurance valuations.

A recent survey that took place online revealed that seventy two per cent of ladies taking part admit to purchasing fashion items that never leave the confines of the wardrobe! Not only that but a further twenty one per cent of participants reveal they will hold on to items in hope that they will one day return into fashion!

According to the article “Brits unaware of the value of their home wardrobe!” Britain’s shoppers have not stopped bargain hunting in the face of the credit crunch – far from it! The insurance company Swinton have observed while continuing to shop we are acquiring purchases that should be added to the value of our home contents. Recognising that high street fashions can be as pricey as larger one-off purchases that we automatically add to our contents value, they are keen to remind us that our latest fashion accessories and designer labels should all be added to the grand total of the value of our home contents insurance.

Surprisingly, it is not just the ladies who are keen to buy fashion items but fail to wear them as fifty two per cent of men in the survey revealed their wardrobes contained clothes that have never seen the light of day! It is not just those ladies’ wardrobes that bump up the value of our home contents as sixty per cent of men revealed they had at least the one expensive designer suit!

Swinton are keen to stress that we should all renew the values of our contents insurance following all our clothes shopping sessions because if we don’t our value summations are at risk of falling considerably short of what it should be.

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When too much alcohol could cancel out your travel insurance!

June 12th, 2009

If you have an accident under the influence of alcohol, did you know your travel insurance most likely will not cover you? When questioned only one quarter of all Brits realised this sobering fact but hopefully more will be aware thanks to the article “Drunk holidaymakers put travel insurance at risk”.

A recent survey carried out by a London based travel insurance consultant revealed much more besides including the fact that eighty per cent of the seventy per cent of people unaware of travel insurance small print get very drunk while on holiday abroad. Should you have an accident on holiday you will be required to fund your medical expenses with no assistance from your insurance.

The message from this article is to steer clear of drunken stupors when on holiday. With the cost of a broken limb setting you back tens of thousands of pounds perhaps it is time for the thirteen per cent of skiers who take to the slopes following alcohol to go for a lie down instead. Your travel insurance will not bail you out of crippling medical bill dept!

By drinking excessively abroad you could be one of the growing numbers who have their travel insurance claims rejected when reporting the loss of valuables like a camera, mobile phone or purse.

Out of people who have had failed claims about nineteen per cent were for damage brought about by fights and twenty eight per cent due to drunken accident claims. Shockingly, about twenty one per cent claimed for hospital costs due to alcohol induced dehydration or alcohol poisoning.

One way to sober up abroad is to consider the costs of a day’s stay in hospital. The amounts in question can easily range from £870 to £1,300 per day! Fancy a drink now?

Concerning the matter of how much alcohol is too much the answer comes back from the insurance specialists that each case is taken on face value. Should alcohol turn up on a medical report your claim for a travel insurance pay out may struggle to get off the ground!

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Money back from our insurance companies anyone?

June 12th, 2009

When it comes to saving cash Martin Lewis is always on the money! The Money Saving Expert has more to say for himself in the article “Martin Lewis:Insurance cashback” and this time we stand to make some extra pounds from our insurance companies.

The idea is that certain insurance companies will YOU for the privilege of covering you! Look out for the sites that display paid links from retailers and services providers. When you register with these companies and click on the product they get their payday. You then receive from them a cut of the revenue they receive in order for you to get the same product. While Martin Lewis states you should never choose an insurer on the basis of a cash back entitlement, if the one you pick (the cheapest) does pay out you could do very nicely out of this. It is all worthwhile especially as from time to time it has been known for customers to benefit to the tune of between £75 and £100 cash back! Check out the moneysavingexpert website for a comparison of who pays out the most amount of cash back today!

Finding the cheapest insurance provider is easy when you have the internet. Check out the comparison websites to save even more time browsing through insurance websites. Whether you seek home contents insurance, motor insurance or travel insurance, this is in deed a beautiful technological age and we are duty bound to always make the most of the internet! If you haven’t heard of them, why not check out the screenscraping comparison sites to shave off even more time from the process of browsing.

Remember to always check the cheapest quote you have found on a comparison site with the insurer’s official website just to be on the safe side.

One last show stopping Martin Lewis ‘special’ is to pay out for your insurance in one go otherwise you will pay extra in monthly payments.

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How to beat the holiday fraudsters!

June 12th, 2009

When heading off on holiday, the last thing you tend to think about is that fraudsters will con you out of all your savings. Here is how to stay one step ahead of the holiday con artists and to survive your stay in the sun with your life savings in tact!

According to the article “’Free holiday’ scams abroad will catch out 400,000 Brits!” British holidaymakers have fallen for the manipulative persuasions of con artists and that plenty more will do so in the future. It all begins with scratch cards.

If you are handed a scratch card beware. This scratch card will more than likely show you as a winner of a free holiday or other prize but you must go to a predetermined venue to claim your winnings. It is here that scratch card winners will find themselves sitting for hours on end listening to a presentation on holiday homes and such like. Beware, there is no such thing as an innocent winning scratch card.

Travel insurance is a beautiful thing. What if you lost all your spending money, your passport, even your return ticket, what happens next if you have no fall back? Travel insurance means not getting let down if you get caught out. Another scam involves tomato ketchup. While being cleaned up after ketchup has been deliberately splashed on you, in the blink of an eye your wallet will disappear! Look out for the ketchup splashes of Argentina where this con is particularly favoured!

A con or scam can take place anywhere and similarities are found from country to country. If you go to Thailand, for example, watch out for strangers offering free drink or food for it could be drugged.

The key to surviving the con artists on holiday is to investigate the particular scam that is rife in the destination you are heading to and be prepared. Check out the ‘know before you go’ campaign courtesy of the foreign office.

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Jamaican gold athlete receives record payout!

June 12th, 2009

Love them or hate them, sometimes our insurance companies never seem to be in a rush to pay out on our claims! According to the article “Mr Usain Bolt record breaking-insurance settlement” they did themselves proud when honouring the Olympic athlete’s claim following an accident, which damaged his prized 2009 BMW M3 Coupe.

The gold medallist’s wrecked car, a birthday present from his sponsor PUMA, was valued at about 160 000 US dollars by the insurers Advantage General Insurance Company. The company were fast to respond settling the Jamaican sprinter’s claim within eight working days.

Ever since taking the Beijing Olympics by storm, Usain Bolt has become a leading role model in the sports world as well as star and role model to anyone he comes in contact with. With this in mind it is simple to see that the insurers Advantage General Insurance Company are merely following good business practices by settling so quickly for the superstar. The publicity achieved from the simple act of going against character and paying so rapidly it practically made Mr Bolt’s head spin is priceless.

On a serious level, the insurance company are quick to point out there was not exactly a question of ‘favouritism’ going on in order to pay out on Mr Bolt’s insurance claim. The accident involving his car received a considerable amount of publicity and so much of the info found its way into the public domain whereas in the majority of cases a considerable amount of time is put into the investigation procedure of an accident.

Good for you Usain Bolt but when all is said and done, we are all paying customers and will all be expecting a much speedier return on our motor insurance claims and we know you can do it!

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