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3 Air Travel Nightmares That Travel Insurance Doesn’t Cover

30 August 2018 By admin Leave a Comment

Each day millions of travelers are navigating airports, filing through security lines and hoping to board their flight seamlessly. However, not every trip goes as planned. Leading travel insurance comparison site, Squaremouth, reviews three common air travel nightmares that travel insurance doesn’t cover.

The Neverending Security Line
While travelers may aim to arrive early, sometimes security lines can be long, especially during holidays and peak travel times. Missing a flight because of a long security line is not covered by travel insurance.

What can be covered: If a traveler misses their flight due to a traffic accident on the way to the airport there may be travel insurance coverage on some policies. Travel insurance providers will require official documentation of the accident during the claims process.

The Overbooked Flight
Often unbeknown to travelers, airlines overbook flights on a regular basis. If an airline ‘bumps’ a traveler from a flight because it’s full, they will often provide a voucher. However, a voucher for future travel doesn’t always help if a traveler has a connecting flight or cruise that they will miss. Any penalties incurred as a result of being bumped from an overbooked flight aren’t covered by travel insurance.

See Full Story at www.travelerstoday.com

How to save hundreds on your car insurance with these seven simple tricks

28 August 2018 By admin Leave a Comment

Some of these tips are as easy as making sure your job title is correct when you apply for insurance.

But, the largest savings are reserved for younger drivers as they have larger premiums to begin with and so have more to save.

There are still plenty of tips for older drivers who want to drive down the cost of their car insurance.

Here are Go Compare’s seven easy ways for you to potentially shave hundreds off your car insurance premiums.

1. Save £88 by using the right job title

Insurers look at your job title when you apply for a job to determine how much of a risk you might be.

Some job titles are viewed as more risky than others and can drive up your premiums so it is important to use the right job title.

Go Compare found that there was an £88 difference in your premiums if you described yourself as a chef rather than a kitchen worker.

It is still important that you are as honest as possible with your job title as if you give false information your insurance could be invalidated.

MoneySuperMarket found that students could be paying as much as £677 for their insurance because they listed themselves as unemployed rather than studying full-time.

2. Save £520 by adding a more experienced driver to your policy

Young and inexperienced drivers often have to pay the highest insurance premiums.

But Go Compare found that you could save up to £520 by adding a more experienced driver like a parent to your policy.

This is because an experienced driver will lower the risk on your policy as it won’t be just the inexperienced driver driving the car.

BY William Calvert

See Full Story at www.thesun.co.uk

What to Know About Your Insurance Before Hurricane Damage Strikes

23 August 2018 By admin 1 Comment

Individual states regulate insurance companies and even then, policies differ from insurance company to insurance company. When it comes to hurricane season, these are some of the policies and terms insurance agents suggest people look for to make sure they are prepared.

Types of Hurricane Damages

Hurricanes leave destruction and ruin in their wake. Families’ lives are upended, people lose loved ones and personal belongings. But when it comes time to rebuild, insurance companies will look at two specific types of damages caused by hurricanes: Windstorm and flood.

Flood insurance ends up being of the upmost importance for people come hurricane season, and it’s coverage that people need to make sure they have, said Jim Whittle, associate general counsel for the American Insurance Association.

Most windstorm and flood deductibles, or the portion of an insurance claim that people have to pay themselves, will be based on a percentage of the insured value of the home and not a flat rate like most deductibles.

This means that more times than not, it’s a higher out-of-pocket cost for people, said Lynne McChristian, consultant for Insurance Information Institute.

Another important aspect to know is that the value the percentage is taken from is based off the cost to rebuild a home, according to McChristian, and not the real estate value. The costs to rebuild a home will be higher than the real estate value.

By Alexander Nicoll

See Full Story at www.thestreet.com

After The Storm: Ways To Streamline Your Insurance Claim

21 August 2018 By admin Leave a Comment

Insurance claims for hail damage are already through the roof, as residents of southeast Saskatchewan begin to sort through the aftermath of Thursday’s storm that left large hail behind, and strong winds caused havoc with the property.

With that said, Tyler McMurchy of Saskatchewan Government Insurance had a few tips for folks to keep in mind as they work to bring things back to normal.

“We do suggest that you clean up as soon as possible, being mindful of your personal safety. You can seek professional advice on how to clean up and take whatever reasonable steps you can to minimize the extent of the damage.”

“(We) recommend not throwing anything out. You want to store those damaged items in a reasonably safe place so the adjuster can see them when they arrive. If you’re disposing of items, take photos and a detailed list of what is being thrown away. You’ll want to have any appliances, including furnaces that have come in contact with water, checked by a qualified electrician or plumber, or an expert in that field before you use them,” he said.

“You want to move damaged or wet belongings to a dry area with good ventilation. One thing people should know is to keep track of their cleaning time and expenses, as some of that may be covered through their insurance claim. We recommend taking photographs and video of damaged property to give to their adjuster.”

by Matt Cinnamon

See Full Story at www.discoverestevan.com

Understanding Insurance Voidance and Cancellation

16 August 2018 By admin Leave a Comment

Before we enter into such a contract, we need to understand the obligations we’re undertaking and the consequences of dishonesty.

INSURANCE CONTRACTS

Firstly, such a contract is necessary. The insurer undertakes the risk, so it must be able to rely on the information you have provided. It has to be accurate. So, in order for the insurer to be certain of this, you will have to answer a number of questions before the contract can be entered into.

Once the policy is in place, the insured party is then under obligation to inform the insurance company of any changes. This could include:

Changing your address (residential or work);
Modifying your vehicle;
Getting married;
Changing your car details, such as a new licence plate number.

If you fail to do this, it’s considered a breach of good faith. As such, it may place your contract at risk. This is pretty simple to understand.

If you live in a nice neighbourhood with a low crime rate and take out an insurance policy for your car, your premium will be lower because your vehicle isn’t at high risk. Now you move to a neighbourhood with a highcrime rate – you don’t let the insurer know and your premium stays the same – and then your car gets stolen. The insurer then finds out that you have failed to inform them of your move. You’ve put your vehicle at greater risk.

This means that for the last while, your premiums have not been calculated accurately.

Not only could the insurer then refuse to pay out your claim, but it could also affect your standing with all other insurers. Either way, there will be consequences and your contract will suffer. Let’s have a look at how that might happen.

See Full Story at www.womenonwheels.co.za

Does home insurance for an older property cost you more?

14 August 2018 By admin Leave a Comment

How much does it cost to insure an older home?

The age of your property can determine the size of your annual insurance bill. Homes built towards the end of the 19th century have the highest home-insurance premiums, coming in at around £160 a year, Consumer Intelligence found.

By contrast, properties build post-2000, including new-build homes, are cheaper to insure, with an average annual home insurance premium of £117, £43 cheaper. Overall, the average UK buildings and contents policy costs £133 annually.

Why do older homes have a higher premium?

Higher home insurance premium for older properties reflect the higher cost of claims made by their owners. You’re more likely to need to make a claim for an older homes, as the roofing, plumbing and wiring are prone to wear out or develop faults.

And when repairs are needed, replacement materials for 19th century houses are more expensive to source. Insurers factor in the higher cost they’re likely to incur from these properties, and charge owners more accordingly.

Risks of buying an older home

In addition to higher insurance premiums, there are several risks to consider if you’re thinking about buying an older property. These include:

Dangerous substances

Older properties are at risk of containing dangerous substances like lead and asbestos which were commonly used in the construction of properties until relatively recently.

Subsidence

Victorian and Edwardian homes have a higher risk of subsidence than newer properties. Subsidence happens when the foundation of a house collapses or sinks and often causes sudden cracks to appear in plaster or brickwork.

Damp and mould

Older buildings are more likely to develop damp and mould than newer homes as they were not built with damp proof materials and roof felting.

By Brean Horne

See Full Story at www.which.co.uk

How to cut the cost of your car insurance

9 August 2018 By admin Leave a Comment

The list explains how making tweaks to your policy such as adding a more experienced driver and staying clear of added extras could reduce the cost quite considerably, particularly for younger drivers who are usually stung for much higher premiums.

Matt Oliver from GoCompare Car Insurance said: “While the amount people could save from each of these car insurance hacks will vary based on their circumstances, people should know that it can really pay to get engaged when it comes to their insurance.”

Use the right job title

Some occupations are considered more risky than others, according to GoCompare. But there are also situations where there is more than one job title on the pre-defined list which describes your occupation. Where this is the case, you could make some savings.

If you are a chef, for example, the average quote for this job title is £88 higher than for ‘kitchen staff’. There are other similar options for people who do office work, building and construction, teaching and journalism.

What’s more, if you are a student or full-time parent it’s important you don’t describe yourself as ‘unemployed’. You could save yourself up to £300 by not making this mistake, said GoCompare.

Add a more experienced driver

Young and inexperienced drivers could save money by adding someone with a few years more driving behind them, said GoCompare.

Putting someone like a parent on the policy could save as much as £520 according to GoCompare’s figures. But older drivers who are deemed low risk can also benefit from having an experienced named driver on their policy.

Beware of ‘fronting’, where a younger driver claims to be the additional driver when they are actually the main driver – this is illegal.

Plan ahead

GoCompare said car insurance is, on average, cheaper if bought a week before the start date. Getting it sorted in advance could save as much as 12%, it revealed.

Pay annually

Paying monthly is, according to GoCompare, almost always more expensive and putting down one lump sum in advance could knock up to £120 off the price.

If you cannot afford this much money in one payment, GoCompare recommends using a 0% interest credit card. Just ensure you pay off the balance on the card before the interest-free period ends.

By Kate Saines

See Full Story at www.themoneypages.com

What to Know About Your Insurance When You’re on Vacation

7 August 2018 By admin Leave a Comment

If you’re traveling in the U.S., where you go and what type of facility you seek care from will affect how big your bill is when you get home. Many places will be considered out-of-network, but you may be able to find in-network care if you plan ahead. When you’re abroad, things get a bit more complicated.

Here are some general tips when traveling:

Keep your insurance card in your wallet.

Bring a list of any medications you’re on.

Make sure you have a healthy supply of the medications you’re on. You may be able to ask your doctor for a “vacation override” to pick up your prescription ahead of time.

Know what your insurance covers, and check for in-network facilities where you’re traveling.

See if your doctor offers telehealth services, like a video consultation.

Beyond that, here’s what to keep in mind.

When You’re Traveling to a Different State

If you’re in the U.S. and you have a medical emergency, your insurance should cover your trip to the ER regardless of where you are, according to Consumer Reports. “Under the Affordable Care Act, if you need emergency care, your co-pay or co-insurance cannot be higher than your in-network rate, even at out-of-network hospitals,” CR reports.

That said, you should be careful—some insurers, like Anthem, have said they can deny claims that don’t match their definition of an “emergency.” And others levy expensive co-pays on ER visits, which could put you in trouble if you have a high-deductible health plan. And the ambulance ride to the hospital can also cost you big.

You’ll also want to be aware that many physicians in ERs are contractors, meaning even if you go to an in-network hospital, they could be considered out-of-network. Then you’ll have a huge bill to deal with. A non-emergency visit could end up costing you too, if it’s billed out-of-network. Walk-in clinics and urgent care centers could be viable alternatives, if you can find one—often, wait times are lower and you’ll pay a co-pay similar to a doctor’s visit.

By Alicia Adamczyk

See Full Story at twocents.lifehacker.com

Does Your Insurance Cover The Risks Associated With Loadshedding?

2 August 2018 By admin Leave a Comment

While loadshedding is not welcome news, especially during cold weather, an insurance expert says it may be an opportune time for South Africans who are insured to check if they’re adequately covered and that their policies include specific risks that are unique to loadshedding.

Loadshedding can cause great damage to electronic equipment, for example, resulting in unfortunate insurance claims. Loss of goods because of theft or burglary may also occur during power cuts, leading consumers to claim from their insurance companies.

“In the case of loadshedding, for example, the battery of the alarm system plays a major role and policyholders should ensure that their alarm-system batteries are tested regularly to ensure that maximum protection is provided. Also, loadshedding can dramatically reduce the lifespan of an alarm battery, and should the battery be older than one year, consumers should make the necessary arrangements to either replace or check the battery,” said Christelle Colman, executive for high net-worth solutions at Old Mutual Insure.

“When the loadshedding period ends and electricity has returned, in most cases a power surge occurs due to a boost in the electrical charge in the power lines, increasing the current flow of electricity to the wall outlet. As a result, appliances and other electronic devices in households might short-circuit or malfunction,” explained Colman.

“It is also important to note that these power surges can lead to electrical fires, with the entire house at risk of burning down. We saw a number of home fires during the previous period of sustained loadshedding,” she added.

This is why it’s important to ensure that you’re adequately covered. When you are underinsured for certain loadshedding risks and have not taken the necessary safety precautions, it could lead to further frustration when an insurance company is unable to settle a claim.

By Zongile Nhlapo

See Full Story at www.huffingtonpost.co.za

9 nightmares your travel insurance won’t cover

31 July 2018 By admin Leave a Comment

Travel insurance is designed to perform best in simple situations where you prepaid for vacation components. For example, trip cancellation: when you or a loved one gets sick or has an accident that prevents your travel; or trip interruption: when something happens to prevent you from reaching your destination or staying there.

Those kinds of travel insurance are good at getting back whatever money you can’t get back directly from the suppliers, and that’s enough for many travelers. But many problems that often arise fall around the edges of travel insurance policies, and may not be covered.

Squaremouth, a travel insurance comparison site, recently shared some “surprisingly common” nightmares that standard travel insurance often doesn’t cover. Squaremouth names three situations for each of the following categories: air travel, hotel stays, and on-the-ground bookings once you’ve arrived.

Here are potential travel insurance nightmares to be on the lookout for, and how you might be able to avoid or remedy it.

• Security delays: Travel insurance typically doesn’t cover you if you miss a plane due to excessively long lines at TSA. While those aren’t your fault, they also aren’t the fault of the airline. If you frequent busy airports, consider TSA Precheck where it’s available.

• Bumping: Insurance typically doesn’t cover downstream cancellation penalties if you’re bumped from a flight and miss a subsequent departure.

• Mileage flights: If your flight on a frequent-flier award ticket is canceled or otherwise impacted, insurance can’t replace or pay you for points. It may, however, cover the cost or re-deposit unused miles thereafter.

• Lost lodging reservations: A lost lodging reservation isn’t covered by travel insurance, and instead will have to be taken up with the company or travel agent that lost it.

By Ed Perkins

See Full Story at www.wkyc.com

Insurance Agency Singapore | Commercial Insurance and Personal Insurance