Posts Tagged With 'insurance'

Posted by Mikayla Stevenson | May 03, 2012

Ask the holiday home insurance expert roundup – part 2

Got an insurance question relating to holiday homes or letting? Here are common questions asked by fellow holiday home owners. Feel free to contact us if you have a question for one of our insurance experts at Schofields.

Q. We are renting a Gite in France in the first two weeks of August and the property owner has asked us if our insurance policy covers accidental, fire or water damage to their property. Is there a policy available that would cover a two week holiday period while we are renting a French property?

A. This is a question that is frequently raised by those renting villas and gites in France. Ideally, the property owners’ insurance should protect their home against such risks when renting, as is the case with UK sourced insurance. However, in France this is often not the case and the holidaymakers are asked to provide proof of civil liability insurance.

This is a common problem when French owners rent to non-French residents. This post explains further.

A travel or main residence insurance policy usually includes an element of liability cover which may be suitable. Alternatively, try searching on Google for ‘adar insurance’ who offer a policy which some holiday rental agencies in France use.

Q. I have a second property which has been insured with Schofields for the past 3 years. I do

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Tags:
Holiday Home, insurance
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Posted by Victoria Milson | April 01, 2012

The Benefits of Term Life Insurance

When it comes to buying a term life insurance policy, it is important to consider the amount of coverage you need to protect your family and financial obligations. If you are interested in coverage for a specific amount of time, a term life insurance policy would be an ideal choice.

Term life insurance provides your family with financial protection should something happen to you during the course of the policy. In the case of an unforeseen death, your policy can be used to provide financial security for your family by covering living expenses and any outstanding debts. Coverage amounts can also be selected to cover college tuition, a mortgage, child care, and expenses like car payments. One of the best advantages of term life is, you can generally get more for your money compared to other types of life insurance. This means you can apply for a coverage amount to cover your needs for a generally reasonable price.

As an added bonus, some term life insurance policies offer opportunities to convert into a whole life insurance policy should your needs change in the future. Similarly some term life insurance policies offer the opportunity to renew the policy at the end of the term.

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Tags:
insurance, Life Insurance, Term Life, Term Life Insurance
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Posted by Admin | March 20, 2012

An Introduction to Landlord Building Insurance

Landlord building insurance is an essential type of insurance which landlords should have to make sure that the structure of their rental property would be covered in the event that it gets damaged because of a covered incident such as a storm or a fire. This means that by having landlord building insurance, any losses or damages that your property sustains due to a covered incident while it is rented out can be covered. This, in turn, can prevent you from having to deal with potentially huge financial losses.

Some of the other things which can be covered by a landlord building insurance include the losses or damages sustained by a separate structure that is also on the premises of your rental property such as a garage or a shed as well as the liability risks which may result from building defects such as electrical wiring issues or the improper construction of the stairs. Keep in mind that the things that can be covered and the exclusions of a landlord building insurance policy can vary, depending on the insurance provider and on the type of landlord building insurance policy you are evaluating. This is why you need to be sure that you would be carefully reviewing the policy before taking it out to avoid getting one which cannot sufficiently cover you when you need to be covered. Read more…

Tags:
Building Insurance, insurance, Landlord Building, Landlord Building Insurance
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Posted by Gabriella Hopkins | February 16, 2012

Will having my car garaged cut down on my insurance costs?

That depends on what you mean. If you mean that you are garaging your car because you’re going on an extended vacation, then you might be able to get a discount on your car insurance since the likelihood of being in an accident goes down quite a bit if you aren’t actually driving a car. If you mean will you get a discount because you park your car in your garage, then no. The only exception to this would be if you have a classic car and classic car insurance. In that situation many classic car insurance companies offer discounts if you protect your car in a garage.

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insurance, Insurance Costs
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Posted by Victoria Milson | February 05, 2012

Top Ways to Save When Buying Life Insurance

Buying life insurance is a big step in your life. It also means you have created enough success that the people who love you can depend on you, and will be affected in many ways if you pass on. Life insurance gives your loved ones and dependents the gift of security. Given the benefits that it offers, life insurance is a relatively simple product to understand and buy. Here are a few tips to make buying life insurance easy and affordable:

  • Buy the right kind. Insurance comes in a number of different types. Do you need whole life, universal life, term life or some variant? For most people, term life insurance will give them the most protection at the lowest cost. Term insurance covers you for a given period of time, or term. For instance, if you know that you will be working for another 15 years, buying a 15 year term policy will cover your family in case you die and stop earning.
  • Buy sooner rather than later. For term life insurance, the lower the chance you will pass away during the term of your insurance policy, the lower your rate will be. If you buy while you are younger, the premiums will typically be lower.
  • Buy the right amount. One good starting point when buying life insurance is to purchase enough to pay off all of your debts and to replace your income.
  • Get in shape. Ultimately, life insurance is a bet on your life, and the insurer is betting that you will outlive your policy.

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Tags:
Buying Life, Buying Life Insurance, insurance, Life Insurance
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Posted by Mikayla Stevenson | January 10, 2012

Brits conned by travel insurance ‘get out’ clauses? You’re safe with us.

Some travel insurance companies are in the news for all the wrong reasons. A number of British policyholders are furious with their insurance providers and have complained about being cheated by medical ‘get out’ clauses.

Knowing exactly where you stand with a travel insurance policy can be tricky enough, without media reports of customer complaints and suspected wrongdoing. So here’s a quick explanation of the disagreement as well as clear guidance on where you stand when you get cover with World First Travel Insurance.

What’s the fuss about?

Travel insurance policyholders have been complaining about insurers changing the terms of policies, after they have been sold.

Basically, some insurers are walking away from customers whose personal conditions change between purchasing their policy and going away on holiday (if they are diagnosed with a medical condition, for instance). It’s argued that some insurers use ‘ongoing medical warranties’ or ‘change of risk clauses’ as a get out if they no longer wish to insure the customer. This despite the fact that a customer cannot get a refund from their insurer on a policy if they wish to cancel it after the 14 day grace period.
It’s an issue that has not escaped consumer watchdogs

In a recent travel insurance survey, consumer group Which? found that nearly a

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insurance, Travel Insurance
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Posted by Victoria Milson | December 31, 2011

Study In Peace with College Student Health Insurance

Come December, and some college students are trying to switch colleges. Some subsidized health insurance for college students is valid only in the state that the college is in, and coverage outside the state is limited. However, some student insurance plans, especially those purchased independently, offer a wider coverage throughout the country. A student will then be covered under the same insurance policy, and need not go through another application process.

Health insurance for college students is especially useful for those who enroll in college after a few years of graduating from school, and their parents’ health insurance plan ceases to be effective. It is also useful if the college or school is outside the student’s current HMO/PPO region.

Coverage is typically like a long-term health insurance plan, and covers regular check-ups and scheduled visits to the physician. However, all types of dental care may not be covered under all student health insurance plans. While a student, insurance is the last thing on one’s mind.

However, it is important to be covered adequately, as any mishap during college can be devastating not just on the pocket and mind, it can also be disastrous on the mind, unless college student health insurance covers most of the costs.

Tags:
College Student, Health Insurance, insurance
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Posted by Gabriella Hopkins | December 04, 2011

Why car insurance premiums are on the rise

Ontario is set to unveil no frills car insurance coverage that while cheaper also limits benefits.

Ontario drivers have good reason to be suspicious about the cost of auto insurance.

We are causing fewer collisions, and being robbed, vandalized and stone-chipped less often.

The cost of repairing collision damage inflicted by others did rise about 6.9 per cent over four years, compared with an overall price inflation rate of 6 per cent.

Yet far more us claimed to be injured and in need of hands-on care, financial assistance and relief from the day-to-day grind of returning to work, caring for children and keeping homes and lawns tidy.

Industry-wide insurance figures for 2010 indicate the number of claims for accident benefits — by both those innocent and at-fault — were 28 per cent higher than in 2006.

What’s more alarming is the cost of compensation, including insurers’ cost of administration, rose by nearly 71 per cent.

The combined effect of a 17,498 increase in claims and a $23,239 increase in the average claim cost equaled about $350 for each of the 6.6 million privately owned passenger vehicles, excluding those of farmers.

Motorists didn’t actually pay the full $2.4 billion increase in costs. If they had, their insurance premiums would have had to been higher by at least $925 million or $140 per car.

So insurers saw a steep drop in profitability. Hardest h

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Tags:
Car Insurance, insurance
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