A Guide to Contents Insurance

The protection of the contents of a home is something that should be considered by everyone, because it is not easy to replace an entire home, inside and out from a cost and time perspective. This is what makes contents insurance important. Contents insurance offers cover for your possessions in events such as burglary, vandalism, fire and other qualified events that can damage the contents of your home – or destroy them completely. You can decide on cover according to the degree of protection you need for different possessions. Other than standard protection, extended protection is also available, and you can get contents insurance cover for extraordinary valuable possessions as well.

Your contents insurance policy can protect you from damage caused by many different types of accidents and events. Companies usually provide cover according to the nature of events with respect your residing location. The cover is available for damage to the contents while they are in your home. However, some companies also provide cover for specific items outside of your home (such as jewelry). This type of cover may be given depending on which company you have your contents insurance with.

In addition to contents insurance, you can also obtain buildings insurance. The greatest advantage of having contents insurance and building Insurance is that it gives you peace of mind, and saves you from worry and expenditure in case of damage to the contents or the building. Getting a contents insurance quote is simple, and can be done easily online. Before deciding on an insurance company, always look around for different quotes and covers. You can also get a combination of contents insurance and buildings insurance both in the same package, which gives you added cover at a price lower than what it would be if both were bought separately. A broker would be able to obtain a deal with your purchase of both policies together. One option to consider if you are a senior citizen is over 50s home insurance. The reason for providing over 50s home insurance is the recognition of the needs of the older generation, as the contents of their homes are different in nature and have different protection needs. Over 50s home insurers often provide many discounts for older people as they are statistically more careful with their possessions.

Besides obtaining the insurance, it is important to make sure that your house is secure. For this purpose you can fit security alarms, window locks, and movement-sensitive lighting, and take other safety measures. Insurance companies often provide discounts once you have fitted these alarm systems and security devices.

In the event of making a claim, you should make sure the estimates for restoration are accurately calculated. There are some things regarding contents insurance that should always be kept in mind. While purchasing insurance, you should always check the validity of the cover for the contents in case they are not present in your home. Whether you are using contents insurance, buildings insurance or home insurance, you should make sure that you notify the insurance company in case you are letting out your home along with the contents. This is because letting out increases the risk on the insurer’s part, and the company might want to increase the premiums. If the company is not notified, your policy could be declared void.

Crime Victims Feel Anger, Outrage

Property crimes make up an overwhelming majority of all crimes. Homes and businesses are equally susceptible to the attention of thieves. And mostly these crimes happen when you aren’t there. An overwhelming number of residential burglaries happen during the day when you are at work. And, of course, businesses are most often burglarized after normal business hours.

There are few things more violating than coming home or arriving at your business and discovering your door has been kicked in or a window smashed. You feel incredible anger and outrage when you find you have been the victim of a property crime. And when filing the insurance claim, victims often discover they can’t remember everything that is missing.

Advantages of having an inventory:

YOU’LL REMEMBER. We, as business owners of an inventory service company, are constantly told that people don’t recover thousands of dollars from their insurance company because they forgot numerous items. Many just give up after months of thinking because of the daunting task of trying to pull all that information together.

PROOF OF OWNERSHIP. A thorough inventory will provide the information needed – photos plus serial and model numbers – often required before a claim will be settled.

REDUCED STRESS. Having all the information in an inventory document will help alleviate the stress and other emotions associated with your burglary. You won’t be thinking over and over, reliving the experience, while you try to remember what was in that corner or what was the brand name of our TV.

THE TIME FACTOR. Adjusters tell us that those with an inventory often file their initial claim within 48 hours. Without an inventory, they state it usually takes the full 12 months they have allotted to file – mainly because they know they aren’t remembering everything!

When you experience a burglary, there might be a few items stolen, or an entire household. We hear of people who go on vacation, only to return to an empty home. Can you imagine walking into your house and seeing complete emptiness? No furniture, appliances, electronics – even pictures that used to be hanging on the wall are now gone!

If you’re making a small insurance claim, you might think the claims process won’t be very difficult. But can you remember everything that’s in your purse or wallet? Most likely not, so how easy would it be to forget items in your home? And how do you know what was taken if the burglars are selective, only seeking – and taking – specific items? The loss might not be discovered for months, or even longer. Then there’s the difficulty of proving ownership. Photos help. Having model and serial numbers with the photos is even better. If the police have recovered numerous computers or cameras, for example, how do you prove which ones are yours? By being able to give them the serial number!

Some burglary victims have figured their loss to be just a few thousand dollars. Even more people, though, have stated they recovered only 30%-50% of what they needed to replace everything. One customer who was burglarized prior to purchasing our service, relayed that he had over $45,000 worth of equipment and furnishings in his business that were stolen. Because he couldn’t remember a number of tools and equipment or prove the high end furnishings, he received a $20,000 claim settlement. Where would you get the $25,000 to replace what the insurance company did not?

An inventory won’t remove the anger and outrage you’ll feel after a burglary, but it will ease the time, energy and stress you will spend compiling your insurance claim. Have you created your home inventory and/or one for your business? If not, consider hiring a local inventory service provider. It’ll be done quickly, professionally, and many will update it for you on an annual basis.

More Than Just Accidents and Tools – The Importance of Farm Insurance

Insurance is something of a contentious issue at the moment, particularly in regards to the current economic crisis which is causing many of us to cut back on cover we do not consider essential. However, with an increase in thefts and burglaries in rural areas of the UK, farm insurance is becoming more of a necessity – and companies are highlighting the customisable nature of their cover in a sector where each customer has different priorities.

Public Liability

Despite the specific individual needs of each farmer and their business, public liability cover is often considered a necessity when it comes to taking out insurance for a working farm or farmland. The reason for this is simply because if anything should go wrong (i.e. damage, injury or worse) involving a member of the public and for which you are held responsible, the cost can be ruinous and without insurance you may be forced to sell your business to satisfy the claim made against you.

Employers’ Liability

Employers’ liability cover is a legal requirement if people work for you, though the law does not state that you must have cover for yourself or a member of your family. However, employers’ liability is there to give you piece of mind and financial security should an accident happen that is your responsibility.

Property

Insuring your property against theft and damage is where farm insurance starts to become more tailored to your specific priorities, and the term “property” can mean anything from buildings, through machinery and vehicles, to animals (see below). With property insurance it is very much up to you to decide which property to insure and for what range of perils e.g. fire or flood.

Livestock

Livestock is a very customisable insurance sector and it depends on what risks you want to insure against. Farm insurance cover options include fire, lightning, accidental injury, death, straying and disease. Various additional risks can be insured against including, for example, the loss of value in a bull if it proves to be infertile.

The Importance of Covering Your Home Possessions

The global credit crisis of recent times is making many people take stock and focus a little more on the things they really value. Needless spending is being curbed and people are more aware than ever of their personal finances and what the implications the current economic climate has for them.

Grim news of people defaulting on their mortgages has served to reinforce the importance of home ownership to many and now is a good time to take another look at how you value your home; but more importantly, how to protect it against potential mishaps.

However, it is never a bad idea to take a good look around your home and ask if you have adequate cover for everything. People have the uncanny ability to accumulate lots of possessions; in addition, extensions, renovations or similar building work may necessitate a review of what protection you currently have in place.

But, sometimes people are not keen to consider home insurance, as they believe it is likely to be too expensive or not particularly necessary. In fact, the cost of modern policies today tends to be competitive but it is always important to protect what you hold dear.

A thorough examination of your house and inventory of its contents will give a good indication of the type of home insurance policy you need. Indeed, it pays to have home insurance cover to protect your most loved possessions; it is also important to know that you will more than likely be paying into a policy for several years.

A good home insurance policy covers your house, garage, and also personal possessions and valuable contents inside the home, against damages caused by everything from fire to theft to natural disasters. Of course, it is not compulsory, but it is highly recommended, as the cost of home repairs can prove costly if serious damage occurs.

You can make significant gains on the cost of your policy by updating your security features such as locks, shutters and alarms. In addition, it is can be beneficial to be part of a neighborhood watch patrol, which will do you and the cost of your policy no harm at all. The age of a house, type of construction and its location all play a role in the cost of the policy but providers are used to all scenarios these days and adequate cover is not difficult to come by.

Insurance is often protection against the unforeseen, and with something as important as your home, you will want to protect it against everything within reason, even threats that are not visible or very likely. A good home insurance policy will mean that you never have to look back with regret, and that is a comforting thought.

Top Reasons To Get Boat Insurance Coverage

These days it’s not only fisherman who take an interest in boating. The upper echelon of society don’t just drive around in fancy cars and own fabulous mansions, rather to further emphasize their social standing the millionaires of today spend freely to own their very own luxury yachts and such. Though any boat owner, regardless of his reasons for having one, needs to keep in mind the need for boating insurance.

Insurance coverage can be useful in many scenarios. Due to the increase in the number of boat owners over the past decade, boat accidents are becoming more and more frequent. Insurance coverage can cover various types of accidents, including those with objects such as rocks or those with other boats, in which case one might even have to pay for damages to the other boat. Some might think that medical coverage is enough, though this will only cover the costs of any damage to persons aboard the boat, not for those of the boat. While a premium does need to be paid for insurance coverage, this is paltry compared to how much one might have to pay during an accident.

In some marinas boat coverage is in fact necessary, and one cannot dock at these locations unless they have certified insurance. In marinas boats are packed very close to each other, and the chances for an accident are much higher. Marinas will not pay for any damages incurred while entering or exiting the dock. Some even sell their own insurance, though these policies should be read over carefully.

Travelling in the open seas means that there are a lot of different dangers. Natural disasters such as hurricanes, earthquakes, tropical storms and fires are all a possibility. Anyone who lives near or plans on passing through high risk areas should definitely consider getting insurance specific for natural disaster coverage; some plans even replace boats lost during natural disasters.

Boats are often at the risk of theft, and there have been cases where whole boats have been stolen from marinas. Insurance can help you replace stolen boats or any items, or even pay for damages incurred if the boat is found. Finally over time boats tend to suffer from excessive water damage. This can get sever enough to require the replacement of upholstery, mechanical parts and even flooring. Without insurance these replacements can be very expensive.

Boat insurance is a must for anyone who wishes to truly enjoy boating without constantly worrying about what might happen to your million-dollar investment. There are many different policies, and one should pay careful attention to what types of coverage best suite his needs.

Why Bicycle Insurance is Essential and Worth Considering

While there are many ways to safely secure your basic bicycle, these will not always prove to be foolproof and therefore taking out adequate basic bicycle insurance is an important additional step. Another reason why bicycle insurance is becoming even more essential is because you and I are looking to alternate forms of economical transport (much like the fuel economizer gas moped scooter) but more of a human propelled nature. This has resulted in more people embracing bicycles for commuting to and from work. And lets not forget the the importance of the bicycle and exercise, where the basic bicycle is extremely popular whether it is used for leisure or sporting events.

So how are basic bicycles and bicycle-related incidents covered under insurance?

Policies differ by Insurance Company, and may even differ within a province, state or country.

In general, both homeowners and renters insurance may typically cover your personal property worldwide against specified perils, generally including theft, and this will of course include your bicycle.

There are limitations and exclusions on this coverage, and they vary significantly among different insurance companies and policies.

One common restriction is that personal property at a secondary residence such as a vacation home or one that you are visiting for an extended period of time, may have a fairly small amount of coverage. So if you want property at that location to be fully insured, you better insurance on the property taken to or at that location.

At this point you are wondering how much will insurance pay for my bicycle if it gets stolen wherever I am?

Again this depends on the coverage you have. The norm for many policies is to pay actual cash value for personal property – that’s what the item is actually worth given its present age. For example: A ten year old bicycle would be valued at the cost of a new bicycle minus ten years’ depreciation.

However if your basic bicycle insurance was a replacement cost coverage, then the bicycle would be replaced without any depreciation with your the bicycle being replaced would be for one at current market value meaning that that that same ten year old bicycle would be valued at the cost of a new bicycle of similar quality.

Of course there is always a catch as the insurance generally does not pay the full value of the loss. Your bicycle insurance policy may typically have a deductible, maybe $100, maybe $1000, depending on what you could afford or chose when you bought the policy.

Before you do have a theft loss, its a good idea to take a photo inventory of your bicycle, and keep receipts of the original purchase, whether your two-wheeled pedal powered transport costs a few hundred or more than a thousand which could be the case nowadays with the many types of hi-tech bikes in the marketplace. This will undoubtedly help in speeding up your claim especially if the bicycle is over a thousand, and will solidify report of theft to the police where you can present the records you kept at the time of purchase.

One last bit of advice, before reporting a theft claim, its beneficial to compare the amount you expect to recover to the possible costs of the claim, such as a claims surcharge on your insurance premiums for the next several years, and the possibility that you will not qualify for standard homeowners coverage. Of course policies vary dramatically by company so always with your local insurance agent for advice.

Buy To Let Property Insurance – Make Sure You Don’t Go Without It

A common mistake amongst buy to let investors is not taking out specialist buy to let property insurance. Virtually all insurance companies view buy to lets as a commercial enterprise and as such require commercial insurance cover. If you attempt to make a claim on a rented property on a regular residential buildings or contents insurance policy the company may well reject the claim outright. This is not a situation any landlord want to find him or herself in so it pays to understand the differences between residential and buy to let insurance and make sure you get the correct policy.

One main difference is that buy to let insurance will allow your property to remain covered even if it is unoccupied for a long period of time. This takes into account the potential of an empty property in between tenancies that often occurs with buy to let properties.

Another big difference with buy to let insurance is that it provides ‘landlord liability cover’. Landlords owe their tenants a duty of care to provide a safe property in which to reside. Should an accident occur and a claim be taken out by the tenant then buy to let insurance will usually cover any such claims. One point worth remembering is that your company may set out certain guidelines which you should meet in order to meet your duty. These may include having annual gas and electrical safety inspections, or regular check ups by the letting agent or an independent surveyor.

When renting a property it is worth noting that you should only insure the buildings and your contents only. It is usually the tenants responsibility to insure his or her contents separately. You should check this with your insurance company and make it clear to your tenants.

Make Claim on No Win No Fee Basis!

If you have suffered an injury due to the negligence of someone and wish to make a claim, you can seek help from accident claims solicitors. They can help get compensation fast. Accident claims solicitors have abundant experience in handling claims cases. They can guide you to make a claim quickly. They have helped many people get suitable compensation. You can also make a claim on a no win no fee basis. Under this type of agreement, you need not pay the solicitor any fees for the claim. These agreements are also known as “conditional fee agreements”. It means that if you don’t win your personal injury claim, you need not pay your solicitors fee.

Over a period of time, these types of claims have become extremely popular. During the initial phase, the personal injury solicitor will make an assessment whether the claim will be successful or not. The success of the claim depends on the case. If the personal injury solicitor feels your claim is unlikely to be successful, they will advice you not to pursue the case. With a no win fee claims case, the solicitor will only be paid if the claims case is successful. In case, the claims case fails, you need not pay any fee to the solicitor. A team of accident claims specialists will help get compensation fast.

Whatever be the cause of accident, you can get compensation. The claimant must be able to prove that injuries have resulted due to the negligence of someone. You may have suffered an injury while working in an office. If someone else was responsible for the accident, you can get compensation. Employers are responsible for the safety of employees and must provide adequate training to all the employees. If they fail to do so and you suffer an injury, you can make a claim. They will also provide free legal advice. This will help make a claim soon.

Student Possessions Insurance and Protecting Your Belongings – 4 Things to Remember

Nowadays it’s essential for students to get insurance to cover the possessions they take with them to their student accommodation. Sadly, there are thieves who are on the look out for soft targets and with the amount of technology; phones, laptops, mp3 players and so on that students own, there are plenty of opportunities for thefts. Here are 4 things to remember when insuring and protecting your belongings.

1. Be security conscious at all times especially when you first move in

Whether you are in halls of residence or in a privately owned student house, you need to be conscious of where your belongings actually are, particularly when you are first moving in. Thieves know that this is a vulnerable time and can even be watching and taking mental notes of any opportunities. In a halls of residence, people will not be familiar with each other at first, so thieves can move around more easily, relatively undetected. The advice here is to try and keep all your property in sight and if possible all together, if someone is helping you move in, make them aware of the dangers so that they can be extra vigilant.

2. Take your time when looking for insurance, to get the best deal

You will reap rewards in time and money saving by doing due diligence when looking for insurance and getting the right cover for the right price. If you can use the Internet for your search, you can more easily make notes, get quotes sent to you by email and print them and also use comparison sites, which should save you money on your policy. Look carefully at each quote and make sure it covers all your requirements with no hidden charges – the cheaper quotes aren’t necessarily the cheapest when you factor in those ‘hidden’ costs.

3. Look for insurance that covers unforced entry

This particularly applies in halls of residence, where you are not solely responsible for locking all doors. It can also apply to a private residence of course, but the point is that a thief could enter without having to force their way in. Look for insurance policies which give you some sort of cover on this eventuality. Any insurer who fully understands the practicalities of student life in accommodation, will offer a policy with this in mind, although it may mean a higher premium.

4. How much will you have to pay for basic cover?

It has been calculated that on average a student owns about £3000 of possessions, so based on this your premium may well be between £20 and £50. The cover will factor in where your accommodation is, (city or town and the area’s reputation) and the type of accommodation, (halls of residence or rented residential student housing).

It makes real sense to insure and protect your possessions if you are a student, (or, indeed anyone else). The time and money spent sorting it out will give you peace of mind and save you a lot of time and aggravation.

Buy To Let Property Insurance – How To Get The Best Deal

Home insurance can be an expensive outlay that most people simply accept. However buy to let property insurance is often overlooked by buy to let landlords due to the costs involved. But there are some simple ways to keep this extra cost to a minimum. Here is how:

What does buy to let property insurance cover?

You want to understand what a buy to let property insurance policy covers so you know how much risk you must accept should something go wrong. Below is a list of what most policies usually include:

The buy to let property – Buy to let property insurance pays to rebuild or repair your home after it’s been damaged by fire, water leaks, vandalism, lightning, frozen pipes, ice, snow, and storms. It is worth checking the policy closely as properties in some areas require extra cover (for example if they are in an area of particularly low land on a flood plain).

Landlord Liability – It pays for liability claims and your legal fees when you’re found liable for injuring someone, like if a tenant is injured as a result of the property being in a state of disrepair.

Shop around for he best quotes

The best place to look for buy to let property insurance is online. Here you have access to many thousands of policies and can use some of the many sites that compare policies and find you the best deals.

Now, thanks to insurance comparison websites, you can get quotes from a number of different companies without having to go from one company website to the next and fill out one form after another.

How to lower your premiums even more

Once you have chosen the company with the best rate, you can lower your premium even further by following these tips:

Don’t insure the land

Many people make the mistake of insuring their buy to let property to the value they paid for it. In fact you should only insure the rebuild cost. The sale price often used will include the value of the land on which the property sits as well as some goodwill for the fact that the property is built and fully functioning. The best way is to ask a local builder for a rebuild valuation.

Accept a higher excess

Usually property insurance policies with a higher excess are cheaper. If you are confident that claims will be few and far between then it may pay to accept a higher excess in exchange for a lower premium.

Installing a burglar alarm, dead-bolt locks, window locks, smoke detectors, and security lights, can also reduce your premium significantly.