In the UK it is compulsory to have insurance for your vehicle before you can drive on the roads. You are breaking the law if you drive on a vehicle on a public road and you are not insured. Insurance protects you, other motorists and your vehicle against any liability in the event of any accident. Third party cover is the legal requirement of cover that you must have. Third party insurance covers injury to other people or damage to other people’s vehicles and property. Most insurers also offer additional levels of cover that extend beyond your legal requirements. Third party fire and theft cover provides the same cover as third party only cover but also insurers you if your vehicle is damaged by fire or stolen. Comprehensive cover also provides the same cover as third party cover but also covers you if your vehicle is damaged in an accident.
With any vehicle insurance you should take out a policy that suits your situation. For example if you are a young driver there are policies which can especially cater for you. You can also get over 50s insurance, insurance for women, classic vehicle insurance and you can even get insurance if you don’t drive often. Insurers will see low mileage drivers as less of risk because you are not on the road as often so you are less likely to have an accident which means you are likely to pay a lower premium.
What is covered with insurance
Different types of insurance and insurance policies will cover some of the aspects listed below:
- Repair/replacement of the vehicle if it is damaged or stolen.
- Injury to you and others
- Legal expenses and personal liability
- Windscreen/window repair
- Your valuables and personal belongings
- Vehicle breakdown
How much will it cost?20. April 2012 · Comments Off · Categories: Insurance
The premium you will pay is decided by the insurer you pick and by a number of other aspects that can be determined by:
- The type of vehicle – whether it is a car, motorbike, caravan or a specialist vehicle
- Characteristics of the vehicle – including the age and particularly what safety features it has such as airbags and alarms
- The level of cover you choose
- The length of the policy
- The driver – including your age and gender
Protecting your no claims discount
If you do not make a claim during the term of your policy, you will qualify for a discounted premium. As an additional feature of a motor vehicle insurance policy you can be given the option to protect yourself from losing your no claims discount but this might not protect your premium. Remember this is an additional expense which may seem costly but if you have to make a claim you will risk losing the no claims discount and in certain cases some customers have seen their premium rise dramatically as a result of losing it. Paying the extra to protect this discount is an attractive option for many because you accumulate more discounts over the years by not making a claim. However, on the other hand, if you take out this protection and you do not make claims for many years, you could find that paying the extra has not been worth it.
Being a UK citizen you are fortunate enough to be able to have access to free medical care through the NHS. While this can be an excellent service you will find that investing in health insurance can be invaluable particularly as the population is getting bigger and living longer, putting increasing pressure on the NHS. Health Insurance is used to pay for private medical care. Some may feel that private health insurance is an unnecessary purchase when the NHS provides healthcare free of charge. However, being in good health should never be taken for granted and health insurance can help you get on the road to recovery faster than via the NHS. Health insurance can be expensive but there are affordable policies on the market. Health insurance ultimately gives you peace of mind so that if the worst happens, you can be treated quickly and ensure that you are well looked after.
What are the benefits?
- Quicker treatment – unlike the NHS you will not have to wait as long for private treatment.
- Avoid public hospital waiting lists
- More control over the treatment and care you are given – for example you can decide where and when you are treated
- Private rooms – you may also have an en-suite bathroom
- Personal care – you are likely to be seen by the same consultants and doctors throughout your treatment
- An overall better healthcare experience
If you have anyone who is financially dependent on you then you really should consider taking out a life insurance policy so you can be sure that when you are no longer around your family and loved ones are financially secure. In short, if your death is going to impact someone financially then life insurance is necessary. Life insurance can be used to ensure that your affairs are in order. If you are not covered then you place any dependents at risk which is the last thing they will need. When you die, generally speaking, a lump sum will be paid out to who you choose.
You should choose an insurer that is well priced and offers you flexibility. Most policies cover death by practically any cause. Make sure you choose the right level of cover because too much insurance may not be worth the cost and too little could not be sufficient for your family. You can also get some specialist policies for example if you are over a certain age, or have a critical illness.
How much a life insurance policy costs will depend on a number of factors. Firstly it will depend on the insurance sum and the insurance term. It will also depend on your age. In general the younger and healthier you are, the lower your premium is likely to be because you are less likely to die in the near future. You medical history will also play an important factor for example whether or not you have a critical illness. Also please note that if you are a smoker then your premium is likely to be higher.
Life insurance could provide a range of benefits in the event that something happens to you. You can use it for:
- Funeral costs
- Protecting assets
- Providing a regular income for your family –financing your family’s general living costs and maintaining their lifestyle
- For your children’s school or university fees
- Settle any debts or unpaid bills you may have including mortgages so you don’t leave this burden for your family
Your wedding should be the best day of your life. You have spent so much time and money in planning your big day that it would be a disaster if the bride or the groom would get ill on the wedding day. If you want to make sure that you are secured against any unforeseen expenses or cancellation you need to take out some kind of wedding insurance.
There are multiple different wedding insurance providers with different polices. Whether you are having a civil ceremony, a church wedding, a wedding in the UK or abroad, you will find a suitable insurance policy for sure.
Furthermore you can find policies that will pay a complete replacement of the wedding to a different date in case of illness. Other polices cover ceremonial and bridal attire, wedding cars and the failure of suppliers. Most of the providers cover your wedding in case of illness of either the bride or groom. Some of the wedding insurances even take care of missing rings, flowers or cakes, photographers, or wedding gifts.
To find the perfect insurance for the perfect wedding day you have to shop around and compare different providers.