Brignall Archer

What is Health Insurance?

Health insurance is the term given to insurance that will pay out if you become ill, so that you are able to pay for your medical expenses, e.g. for private healthcare.

What are the Benefits of Health Insurance?

Health insurance can allow the policyholder to seek private treatment quickly, avoiding lengthy NHS waiting lists.  Private hospitals are often perceived as being often more comfortable than NHS hospitals. 

Do I Need Health Insurance?

It is a good idea for everyone to have some form of health insurance.  It is especially important for those who are self-employed, anticipate poor health in the future, or those who would always choose private healthcare.

How Much Does it Cost?

Different policies offer different levels of cover, so premiums vary considerably.  For example, some policies may pay out more than others, and policies do not cover all types of illness.  Premiums will also depend on your age, general health, medical history, and other factors such as smoking and alcohol consumption.

Where Can I Obtain Health Insurance?

Some employers offer their employees health insurance either for free or at a discount rate.  Often in this situation, the employee will contribute a certain amount each month, and the employer will then ‘top it up’.  If your employer does not offer this benefit, it is possible to obtain health insurance directly.  There are many different companies that offer it, and it is best to speak to a health insurance company, who will be able to assess your needs and advise you on the best product for your needs.

Buying cheap home insurance can be a complicated affair.  There are many things to take into account to ensure you are properly covered.  With so many insurance deals out there, here is a basic guide to what you should expect from your policy.

For many homeowners, the minimum cover required by mortgage lenders comes in the form of buildings insurance.  These policies are aimed to give you protection from unexpected damage to your property, in cases where the cause of the damage is entirely out of your hands.  When buying buildings insurance, it is best to find a policy that will help pay for the damage resulting from freak events such as flooding, storm damage (including lightning), subsidence, vandalism or other malicious damage, damage to interior decorations, and damage resulting from vehicles or aircraft.  This should apply to all fixtures within your property boundaries, though outhouses, garages, and greenhouses may be extra.

If you are also looking to insure your personal belongings inside your house, such as furniture and appliances then you need to buy contents insurance.  It is reasonable to expect a contents insurance package to cover the cost of broken windows, having new locks installed, office/work equipment stored in the house, the contents of your freezer, and losses on stolen credit cards.

The amounts paid for such damages vary depending on the insurance company and premium and it is always important to be clear about what is and is not covered in your home.

Group life insurance is a type of employee benefit given by employers.  It is purchased by the company and the type of policy taken out depends on how much the company is willing to invest.  These schemes may cover long term employees or those who have worked for the company for a certain period of time.  It can come as an employee benefit on its own or as part of an employee pension scheme.  It is an essential employee benefit for a company to guarantee, as it can also ensure they get the highest quality employees and compete effectively with their competition.     

As a general rule, group life insurance is the same as any standard life insurance policy taken out by an individual, with the exception that the payments can be slightly lower than conventional life insurance plans.  With an individual’s life insurance policy, the company asks the applicant questions about age, general health and any risky activities or hobbies.  With a group insurance plan the insurance provider may not be quite as strict regarding their requirements. 
 
Research into the different insurance companies is often required to get the best policy at the best price.  Things to check include the deals that companies may offer as part of the premium and also the company’s reputation.  Consider comparing a few plans with plans that other businesses may have taken out to determine if you are receiving the best quotes. 

While normal travel insurance is always very important for people travelling abroad there are also types of specialist travel insurance available. Sometimes people decide to take winter sports holidays, adventure holidays or spend time abroad backpacking. There are others whose foreign travel is for business. Specialist travel insurance is available for these types of trip.

A winter sports holiday offers extra risk. People can suffer injuries while skiing or they may need rescuing from the ski slopes. The equipment they take with them will be expensive to replace in case of loss. Winter sports holiday travel insurance can be bought as a stand-alone policy or as an addition to standard travel insurance.

Adventure travel holidays, which might include activities such as white water rafting or bungee jumping, also have very obvious risks, so participants will require specialised travel insurance. Adventure holiday insurance can be purchased as a freestanding policy, or as an add-on for standard holiday insurance.

Those going on a backpacking holiday should consider purchasing long stay insurance. It is always important to check that it will cover the countries you will visit. If the traveller is planning to visit countries where there is civil strife it is absolutely essential to ascertain whether he will even be covered.

Business travel insurance is available for those who travel abroad in the course of their work. It usually has to be purchased annually. As well as the other elements covered by travel insurance, items relating to work, such as laptops, will be covered.

Buying a classic car can often be quite a large investment, which can get even more expensive with possible restoration costs and upkeep. If you own such a vehicle, or are planning to purchase one, you will probably want to make sure that it is adequately insured in case of accidents, damage or theft.  

It is often a good idea to get an insurance policy that is specifically geared towards vintage cars, or at the very least to get an agreed valuation before you sign anything.  Insurers who are not used to dealing with these kinds of vehicles may not always have a good idea of their true value, which could result in you losing money.

For a lot of collectors the vehicle in question will not be their main form of transport, and is not likely to spend an enormous amount of time on the road.  It is also probable that it will be stored in a safe and secure place such as a garage due to its value.  Make sure that the insurance company is aware of these facts, as they will often mean that you can get a more generous quote.

Lastly, it is usually worthwhile to review your insurance agreement frequently, to make sure that it still covers the value of your car.  Some rare models can increase in value fairly rapidly and restoring a classic vehicle can also raise its worth, so be sure to keep your policy up to date.

Suing and compensation seem to have become synonymous with the way of life in our current society. Claims for negligence against property owners by tenants have caused many landlords to review and adjust their thoughts on landlord insurance. With liability becoming an increasing cause for concern, it seems that this is wise action to take.

In an ideal world we would not have to worry about whether or not a person is taking the necessary precautions to prevent any harm coming their way while occupying rented property. Another problem that arises from rentals is that unforeseen structural degradation can cause tenants or others to suffer serious accidents. It is these freak accidents that can cause more damage to your pocket than anything else that your tenants might do to your property.

While you might not always be able to prevent accidents happening at your property, it is important that you are covered for this possibility so that you are not left in financial ruin if you are unable to prove negligence on your tenant’s part. Preventing your investment from becoming a heavy financial loss should always be one of your aims when thinking about acquiring landlord insurance.

Finding the right type of landlord insurance policy that covers you from the possible ruin of a liability claim is a very good idea. As you will not be residing in the property yourself and do not know all that could befall those who are, then prevention of financial loss through responsible action makes more sense.

Acquiring the right landlord insurance policy is about insuring yourself against events that are often out of your control. When your livelihood is reliant on your property’s ability to provide you with an annual income, it becomes more apparent how dire a situation can become should you lose this financial security.

The catalysts that can drive your rental income to an all-time low vary, but the most common causes are property damage and long periods of property vacancy. These two things don’t always seem like a probability if you have found that your rental property has provided you with a steady stream of income. However, disaster often strikes when you least expect it to.

Trust leads many people to choose the type of tenants that they do. This idealism can be shattered when you have to come to terms with the fact that you truly don’t know people at all. Damages caused by tenants quickly remedy any delusions about the good in people. The sting is further aggravated when you find it is your own money that has to be spent to fix the problems.  Deposits often do not cover repair costs.

The ideal situation for any landlord is that they have full annual occupation of their property. However, there are instances where this might not be the case, perhaps due to a fire or major damage. The effect of this is that you will not have any money coming in through rent. This need not be the case when you have the backing of the correct landlord insurance policy if for some reason the property cannot be let.

One of the questions that pet insurance companies are often asked is about policies for exotic pets. There are a number of companies that deal with these policies, and for the owner of an exotic pet it is very wise to explore the options for insurance.

One of the problems for owners of exotic pets is that they are more likely to suffer health issues than, for example, cats and dogs. To reduce the costs of veterinary bills, which can prove to be extremely expensive, pet insurance should be a major consideration. It may prove to be more expensive than insurance for more usual domestic animals, but it will bring peace of mind knowing that the pet will be well cared for if necessary.

It is important when exploring this issue to find out what creatures pet insurers consider to be exotic pets. Usually these are animals that are not native to the UK and may include turtles, geckos, snakes, tortoises, chameleons, lizards and amphibians, such as salamanders and various types of tropical frogs.

Checking the type of cover and how many claims can be made is particularly important when researching and deciding on insurance for exotic pets. Another aspect of insurance to be considered is theft. Some exotic pets are very valuable and cost significant amounts of money to purchase, so the option to add theft onto a policy for exotic pets can help to mitigate the financial cost to the owner in the unfortunate event that a pet should be stolen.

Though your home insurance policy covers damage to your home, it may not include any protection for your mortgage.  While you have a mortgage on your home, most lenders require you to have home insurance.  The main reason is to prevent you from leaving your home permanently due to damages by natural causes.  However, some companies actually include mortgage payment protection as well.

Included

Check with your home insurance provider to see if there is any coverage for your mortgage.  This includes handling the remainder of a mortgage if you decide not to rebuild your home.  It may also include coverage for living expenses and payments while you wait for your home to be repaired.

Separate Policy

For policies that do not include mortgage protection, you can either add on a plan or obtain Mortgage Payment Protection Insurance, or MPPI, from a separate insurer.  This coverage protects you even if you can’t pay the mortgage due to illness, injury or unemployment.  For the best protection, get a policy that covers all possibilities, not just obscure problems.

MPPI plans cover mortgage payments at the very least.  You can also get a policy that includes coverage for your home insurance payments as well, since home insurance is likely to be required if you have a mortgage.

Sometimes, this type of policy is included when you get your mortgage.  In most cases, this actually costs you more.  For more coverage at a better rate, either get a separate policy or see if your insurance provider offers this as an add-on policy.

This is the end point of a life insurance policy, or a fulfilment of the terms.  When the insured person passes away during the term of their coverage, it becomes the responsibility of the next of kin to initiate the process of cashing in the policy.

First of all, the life insurance company will require proof of the insured person’s death.  This generally comes in the form of their death certificate.  The company will then have to determine if the cause of death is congruent with the terms of the policy.  For example, it is possible to get a life insurance policy whereby the cause of death must be ‘accidental’ – that is, the cause of death must exclude suicide or death due to poor health.  The determination process can be quite ambiguous in the case of accidental death coverage, or other more specialised kinds of life insurance.  For this reason, always make sure to read the terms and research the likelihood of obtaining a cash value from the life insurance policy before buying.

Whole life insurance ensures that the policyholder will always produce a cash value for the beneficiaries upon death.  This type of coverage is often flexible, with the insurance holder able to make withdrawals or ‘loans’ from the life insurance fund.  The insured should, however, bear in mind that any such withdrawals will reduce the total payout at the end of the policy if the borrowed money is not replaced.