Insurance 4 Insurance

Motor trade insurance provides protection for anyone working with motor vehicles; from car dealerships to MOT test centers. While policies are tailored to your specific business needs, cover can be divided into two basic categories: road risk and combined policies

Motor trade insurance is designed to cover people who actively work with cars, people such as car dealers, mechanics etc. The policy is designed to cover you, your vehicles and the public. Then there is a combined policy which is comprised of road risk insurance, liability cover and it usually also includes the building you work from and business interruption.

Under most standard road risk policies for motor trade insurance you will not be insured for vehicles at the business premises. Insurance companies will usually provide cover for this under a combined policy.
 
A motor trader is anyone who deals with motor vehicles in relation to their business or just as an additional income such as car salesmen, mechanics, valeters etc.

Motor traders pose a different type of risk and therefore need specialized insurance policies. The basic insurance policy is just road risk insurance which will cover you to be on the road, it is the basic insurance that will allow you to legally trade.

All motor trade insurance policies will exclude certain vehicle types. Make sure the policy you have covers the vehicles you are dealing with - a list of the vehicles not covered is available from all insurers. This approach can come as an unpleasant surprise where policyholders have assumed they would get the amount that the car was worth when they first took out the insurance, regardless of the car’s actual market value at the time of the incident giving rise to the claim.

Most policyholders assume that their insurance policy will enable them to replace with a similar vehicle a car that has been stolen or damaged beyond repair. When a firm values cars that have been permanently modified, it may be appropriate to look at the closest equivalent vehicle, and to then make adjustments for the quality of the modifications.

Many insurers will not provide a protected no claims bonus in the motor trade insurance industry, it is simply because motor traders tend to have access to many vehicles and it is impossible to be able to protect the no claims bonus as they may have multiple accidents.

Once we have found the cheapest ‘book’ price we will then get in touch with the insurer directly to see what further discount we can negotiate.

Choosing the right insurance protection is an important decision for anyone who runs a business. When it comes to warehousing, every business has its own unique requirements.

The standard policy provides cover for a range of risks including public and product liability, business interruption cover and cover for your trade contents, machinery, plant and stock.

Businesses that are involved in the industrial, wholesale, import, export and warehouse industries will usually be the types of industries that will look for commercial combined business insurance or combined business insurance or a traders combined business insurance policy.

Warehouses expose concentrated values of goods to fire, flood and other damage. They invite theft and open the door to mistakes in tracking inventory. Whether your warehouse is one room or a major facility, it would be wise to protect yourself from the additional liabilities you are assuming.

The old adage “the cheapest is not necessarily the best” is certainly true for business insurance and commercial insurance which includes surgery insurance.

Warehouse insurance protects you where these other methods fall short. However, not all warehouse insurance provides equal protection since each insurer is free to draft its own policy language. Some policies are much better than others.

In addition to selecting the right insurance coverages, there are other steps you can take to get the best deal. Many insurers will offer broader protection and better rates to warehouses who demonstrate a commitment to minimizing losses.

Select the safest possible location for your warehouse. Consider building construction, repairs and maintenance. Look into the neighborhood crime rate and any recent warehouse thefts, protect the goods you store and pay special attention to your warehouse receipts and contracts.

Others only cover specified causes of loss, leaving the burden of proof on you. Just as with cargo insurance, you can benefit from consulting a specialist who will fully analyze your needs and avoid “off-the-shelf” policies.

Insuring your warehouse operations may not be a logistical nightmare, but it is far less cut and dry than insuring a delivery van, for example. Almost any courier company that stores its customers’ goods would benefit from having special warehouse insurance.

While insurance policy pricing does seem random at best, it is really the result of a lot of hard work, careful analysis and number-crunching. This is the work that is performed daily by a relatively small group of little-known but highly trained insurance industry employees who wear the title of Actuary.

Actuaries perform actuarial analysis of insurance rates, rating procedures, rating plans and schedules of insurance companies.  They review and analyze insurance operations, reserves and underwriting procedures and provide technical assistance regarding actuarial matters to policy examiners and other technical staff.

An Actuary is responsible for analyzing the possible outcomes of the types of events that could potentially cause policyholders to make claims against their insurance policies. They study the overall likelihood that different events will occur, and they evaluate the potential risks each event poses. Their goal is to try and assess the costs associated with the event should it actually occur.

Insurance companies need to make sure that the money they are charging and collecting from policyholders is adequate to cover the costs of settling the claims that might potentially be made by policyholders as well as their other expenses. In fact, the work that Actuaries perform is crucial to an insurance company’s ability to remain in business. If policies are priced too low, there possibly won’t be adequate funds available to pay out all claims. If policies are priced too high, insurance companies risk losing business to those insurance companies offering less expensive policies.

Most actuaries are employed in the insurance industry, specializing in life and health insurance or property and casualty insurance. They produce probability tables which determine the likelihood that a potential future event will generate a claim. From these tables, they estimate the amount a company can expect to pay in claims. For example, property and casualty actuaries calculate the expected amount payable in claims resulting from automobile accidents, an amount that varies with the insured person’s age, sex, driving history, type of car, and other factors.

Actuaries may play a role in determining company policy and may need to explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public in general. They may testify before public agencies on proposed legislation affecting their businesses or explain changes in contract provisions to customers. They also may help companies develop plans to enter new lines of business or new geographic markets with existing lines of business by forecasting demand in competitive settings.

In fact, the work that Actuaries perform is crucial to an insurance company’s ability to remain in business. If policies are priced too low, there possibly won’t be adequate funds available to pay out all claims. If policies are priced too high, insurance companies risk losing business to those insurance companies offering less expensive policies.
Actuaries ensure that the price, or premium, charged for such insurance will enable the company to cover claims and other expenses. The premium must be profitable, yet competitive with other insurance companies. Within the life and health insurance fields, actuaries are helping to develop long-term-care insurance and annuity policies, the latter a growing investment tool for many individuals.

Actuaries have desk jobs, and their offices usually are comfortable and pleasant. They often work at least 40 hours a week. Some actuaries—particularly consulting actuaries—may travel to meet with clients. Consulting actuaries also may experience more erratic employment and be expected to work more than 40 hours per week.

To perform their duties effectively, actuaries must keep up with current economic and social trends and legislation, as well as with health, business, finance, and economic developments that could affect insurance or investment practices. Good communication and interpersonal skills also are important, particularly for prospective consulting actuaries.

If you’re good with numbers and you like to evaluate “what-if” scenarios, you might be a perfect candidate for an Actuary position.

Whether you own a single parrot or rabbit or have a large collection of rare and exotic animals, there’s every chance you’ll want to protect them with a pet cover policy. You can now do this, quickly and affordably, with exotic pet insurance.

This policy can cover your pets against theft and expensive vet fees; the death of your pets as a result of an accident, sickness or disease and against the threat of fire, lightning and storms. In addition this cover can extend to taking your pets to shows and exhibitions.

Though pet insurance plans for dogs and cats are relatively easy to come by, those for more exotic animals have been a little thinner on the ground, until recently.

Birds and exotic pets have become increasingly popular. But they often have health needs and medical conditions that require sophisticated veterinary knowledge. Policies for these pets cover a wide variety of services, unique to each pet’s needs.

Exotic pet insurance covers reptiles, rabbits, hamsters, and others .It covered expenses for birds range from routine nail and beak trimming to major respiratory illnesses.

For many pet owners the unexpected vets bills can easily swell their monthly expenditure to breaking point. It would be worse still, if the situation arises where the pet has ongoing treatment then the fees suddenly become a regular drain on finances.

If you have a large collection of pets, it is possible that more than one policy would be the best way to arrange your Pet insurance.

Animals can be injured through fights or accidents, become ill, or just like us all get old and require ‘maintenance’. It may be worthwhile getting Exotic Pet insurance to help cover the bills

At the time that your insurance started your pet must, to the best of your knowledge and belief, be sound in health and free from any illness, disease, lameness, injury or any physical disability.

Your insurance cover only remains in force if you pay the premium. If you pay the annual premium by monthly installment and you miss an installment you will have to pay the rest of the annual premium immediately.

Until quite recently pet insurance was riddled with exclusions and clauses making choosing one a mind numbing task. But things have changed, and purchasing pet insurance is now much easier because the policies are far more transparent and user-friendly.

Independent advice from the insurance providers will allow you to find the right critical illness insurance cover at the right price according to your particular circumstances.Payment is generally made within 28 days of a serious illness being diagnosed though in the event of permanent disability it will take longer - usually six months to a year.

Just like making a will, thinking about Critical Illness Insurance is something that many people prefer to put off until later. But, do remember that we are all at risk and sooner or later, it could be you who is diagnosed. How grateful would you be to have a Critical Illness insurance policy to support you in those troubled times? Would a tax free lump sum payment be the answer? If so, Critical Illness insurance is the cover for you.

If you want to take out cover, you should do it as soon as possible. The rise in claims and the cost of advances in medical technology have led many insurers to cut back on the conditions they cover, or to impose restrictions on what counts as a critical illness, while many have raised premiums by up to 50%. Premiums are expected to continue to rise as medical technology develops.

It really is up to you, you should consider what income would be required should you die or suffer a critical illness to keep your dependants in the same lifestyle and standard of living as they have now. Also note this will not just be for one year, but possibly a number of years, especially if your children are young. Your annual critical illness premium will continue to be the same for the extent of your critical illness insurance.

When you shop around for a critical illness insurance quote, you are taking a step toward financial security should you become critically ill. In the event that something does happen to you, your critical illness insurance policy could save you from dipping into your savings to pay for treatment, mortgages, debts and maintaining your lifestyle.

An insurance policy is a contract that sets out legal obligations on both the policyholder and the insurer so it is important you understand what you are agreeing to. Household insurance covers either your buildings, contents, or both.

Buildings insurance is household insurance that covers the fabric of your home. Buildings insurance would pay to rebuild your home should you have a fire or would pay for repairs if your home was damaged – by a falling tree for example. Buildings insurance protects the structure of your home including permanent fixtures, bathroom fittings and fitted kitchens.

Contents insurance protects the things you own. If you had a burglary and things were taken or you suffered a fire or flood, your contents insurance would pay to help you replace your lost or damaged belongings.

As a home owner your insurance policy should provide cover for household possessions such as:-
Electrical Goods: televisions, videos, computers, laptops, MP3 players, phones, hi-fis etc.
Other Goods: carpets, furniture, bed linen, towels, clothes, shoes, CD’s, books, china, cooking utensils etc.

Both policies cover you against a stated list of perils for example; fire, subsidence, theft, flood and storm, as well as providing important cover for your legal liabilities as a homeowner and occupier.
 
It is important to keep damaged items because the insurance company may want to see them. Burnt or soaked property can be kept in a shed or garage. Insurance companies usually want to see evidence of ownership and value of property which has been lost or damaged. It is important to keep, if possible, receipts and professional valuations. If you do not have these ask the insurance company what other evidence they will accept.

The household insurance market is very competitive and it is always worthwhile shopping around.  However, using the same company may help to streamline claims handling if you suffer damage to the building and its contents.

Be wary of home insurance providers who offer you a very cheap quote - your home often holds more than just sentimental value, replacing your items can be costly.

House insurance or homeowners’ insurance is an insurance policy that combines insurance for your home, the house contents, loss of use home liability insurance and often, personal possessions..

Householders - like everyone else - have a duty to exercise reasonable care in everything they do. If you are careless or negligent, and this results in injury or damage to someone else or their property, then you could be held legally liable for this and have to pay compensation.

As with most insurance products it is essential to shop around. Making sure you have quotes from a number of home insurance providers should significantly reduce your premium and ensure that you find the right product for your requirements.

An injury whilst playing football could result in your players being off work for several weeks with a resulting loss of wages. This is where the footballer insurance came into play. A football player’s body is not only vital to his career but his livelihood. It is his investment.

Careers in performance, like singing, playing an instrument or playing sports, are high-risk careers that take tremendous work to reach career-worthy levels. In a place where talent dominates the media, it would not be unfathomable to see insurance spread to other performance careers for young talent with exceptional potential.

Life insurance, liability insurance, disability insurance — football players usually load up on as much coverage as they can get to protect themselves and others who depend on their income

Football, according to the National Center for Catastrophic Sport Injury Research, accounts or more than two-thirds of high school sports injuries that paralyze or otherwise severely disable athletes

In football, defensive players are nearly five times more likely to suffer a catastrophic injury than offensive players. The riskiest position is defensive back, and the most common action leading to injury is tackling, especially tackling with the head down.

Insurance costs are a seldom-discussed part of the price of doing business in Major League Baseball But those costs have skyrocketed — premiums by more than 300 percent — as companies have paid out hundreds of millions of dollars in insurance claims in recent years and have passed those costs along to teams.

Liability coverage is a must for NFL players, whose presumed deep pockets are a magnet for lawsuits. On top of the maximum liability insurance available through their homeowners and auto insurance, players typically add a few million dollars more in coverage with an umbrella policy

Disability insurance is also critical, especially for top- football players who want to protect their future value. But it’s expensive — an annual premium of $12,000 per $1 million of coverage — and not every player qualifies.

If a player collects insurance and goes on to play extensively, the player is obligated to pay back the policy amount.

Every year thousands of people complain about the loss or baggage mishandling shows a report conducted by the Air transport Users Council (AUC). Cancelled or delayed flights can also mean an end to the holiday you have been waiting so long for. By having travel insurance you can feel safe knowing that you are covered.

If you are planning to travel a few times this year then an annual policy offers you both convenience and value for money.

Annul Travel Insurance means cheap holiday insurance that covers all the things that matter, so you can relax and enjoy your holiday knowing that should things go wrong - you’ll be fine.

Annual travel insurance policies cover you for one year with an unlimited number of trips allowed during that year. You can take as many holidays as you wish and rest assured that for the next twelve months you will always are covered.

If you plan to take more than two trips per year it some times is cheaper to buy an annual holiday insurance policy than buy two separate single trip travel insurance available.

If you have home insurance, you may find that your insurance policy automatically covers your personal belongings while you are traveling. If you do not have home insurance, your policy does not have this cover or you are unsure for complete peace of mind our annual travel insurance policies allow you to include baggage cover.

Annual holiday insurance policy to be available for 21, 31, or 45 individual trip lengths. This means that during the year your annual travel insurance policy runs, you can travel as many times as you like, but each trip must not exceed the maximum number of days you have selected for your policy to remain valid.

Purchasing our annual travel insurance is very simple. First select the destinations you wish to be covered for over the next year, then select the date you wish your annual travel insurance to start.

Annual travel insurance with golf cover
If you know you’ll be traveling to play golf this year on holiday then our annual travel insurance with golf cover is an ideal choice. By selecting our golf cover option your equipment will be insured against any damage during your games or transit as well as any green fees should you not be able to play. You will be covered for the duration of your annual travel insurance policy.

Annual travel insurance is made for people who take more than one holiday per year. If you are taking a two week holiday in Europe during spring and another holiday later in the year then annual travel holiday insurance could save you handsome money.

Due to the double-digit increase in the property and casualty insurance and a shrinking list of experienced garage insurance providers, dealers across the country have been searching for a better solution for the specialized coverage they need.

Garage insurance provides physical damage coverage for damage to customers’ vehicles while the vehicles are in the care, custody and control of the garage. Typically, comprehensive and collision are the covered perils when using garage insurance.

Garage Insurance provides coverage for bodily injury, property damage or destruction, for which the insured garage and/or its representatives become legally liable resulting from the operation of the garage. For example, negligent repair to a customer’s automobile brakes cause them to fail, thereby injuring the driver. The garage faces a liability suit for perhaps three types of damages: special, general, and punitive.
Your Garage Insurance & Garage keepers Insurance protects you and your business — if your customer or visitor is injured in an accident that occurs out of your ownership of, maintenance of, or use of the premises for the purpose of garage. It pays for medical expenses and property damage to the injured. It also pays for accidents resulting from the operation of service hoists or elevators.

There are number of insurance companies that provides coverage for liability arising from garage operations, medical payments, automobile physical damage, and uninsured or underinsured motorists in a single contract for automobile dealers, service stations, auto repair shops and parking lots.

Garage insurance can be used for a wide range of exposures. A small garage with one gasoline pump can be insured on a garage form. The franchise auto dealer with a thousand cars also can be covered by the garage form. Self-service gasoline stations, car washes, auto body shops, and auto tow truck operations can be insured by the form, too.

Garage liability coverage limits up to $1 million /$2 million. Uninsured and underinsured motorist coverage limit up to $1 million. Garage keepers coverage limit up to $1 million per lot / $150,000 per vehicle.

Garage owners can depend on receiving affordable and complete repair shop insurance coverage at highly competitive rates. The significant value of property and contents makes insurance coverage an important factor in doing business, dealership operators said.

You’ll probably encounter insurance companies that offer package deals, which can be cheaper than buying several individual policies separately. As long as all your needs are met, these package deals can be a good way to go.

As always, be sure you understand the extent of coverage in each area rather than relying on any promises that a particular package covers “all your business needs.”

Insurance may not be a glamorous or exciting topic; however it is an essential part of our lives. Protecting your family, your income and your assets against the unforeseen should be an important inclusion in any financial plan.

If you are like most people, everything you have or hope to have for yourself and your family requires that you continue to earn an income. Income is the foundation that supports your expenses, your lifestyle and your future plans.

Most people don’t realize the risk of becoming disabled, permanently or temporarily, at some point in their lives. But the reality is that at age 40, your chances of becoming disabled for 90 days or more prior to age 65 is 43%.If income is interrupted because of an accident or sickness; it may be difficult or impossible to provide basic family needs.

Long-term disability income insurance provides financial protection if you become disabled. It helps pay current bills so that savings accumulated for your children’s education or your retirement can remain intact.

Income protection insurance is where the insurer will pay you a specified amount of money (usually monthly payments) if you become disabled and unable to work. Insurance policies are like contracts.

The length of time that benefits can be received varies by policy. Some individual policies pay benefits for a specified period of time, such as two or five years, while others pay benefits until age 65 or your retirement age under Social Security.

When something bad happens, you naturally want to race out and claim on your insurance as soon as possible. By satisfying your insurer’s requirements, you can maximize the success of your claim.

The amount of income you would receive when disabled varies by policy. However, benefits from all sources are usually limited to 70-80 percent of your monthly salary. Policies that pay 50-60 percent of salary are most common. Most policies do not replace commission or bonus income. An individual policy provides protection for as long as you continue to pay the premium.

Disability income insurance is sold individually through insurance agents, or through group policies which may be available from your employer or professional organizations.
If disability income insurance is the protection you need, shop around and compare policy features before making a purchase.

Before purchasing an individual long-term disability income insurance policy, evaluate the benefits you may already be eligible to receive from your employer, the government, or other programs.

Make sure you fully understand any policy you are considering-a policy that does not provide the protection you need is not a good buy.