Lowering your home insurance premiums

Home insurance – it’s not just for homeowners, but tenants of rented accommodation, too. According to figures published by the Association of British Insurers (ABI) on the 21st of February 2018, the value of the average household’s contents now stands at £35,000 – well above the average annual pay of £27,000.

Yet as many as 16 million households in the UK have no home contents insurance cover, notes a story in the Sun newspaper on the 29th of May 2018.

If you are one of those 16 million and have been put off by the potential price of home insurance premiums, here are a few tips and suggestions for lowering the cost: [Read more…]

How to save on your motor trade insurance online in 3 easy steps

There’s little doubt about it, if you are in any way involved in this sector of the market, motor traders’ insurance offers the protection you and your business needs against potentially very expensive risks.

As any savvy businessman, however, you have an eye on controlling every aspect of your operating expenses, and that means a concern to save money on motor trade insurance.

By going online, here are three easy steps to doing just that:

  1. Be wary of comparison websites

  • it is commonplace these days to make purchases of goods and services via the internet – and this may still be one of the most popular ways of obtaining many types of insurance too;
  • when looking for ways to cut costs, many people may be tempted to use a comparison website;
  • be aware, however, that the Competition and Markets Authority (CMA) has had concerns about the fairness and reliability of comparison websites in general and, on the 26th of September 2017, released new rules about the way they must operate to stay within the law;
  • in other words, comparison websites may not offer an easy or cost-effective route to selecting motor trade insurance online;

[Read more…]

How to compare funeral plans

Buying a prepaid funeral plan – for yourself or on behalf of a loved one – is one way of helping to ensure that your final send-off goes the way you intended and that payment in advance saves your family the financial burden.

By paying at today’s prices, you may also beat the rampant inflation currently affecting rising funeral costs and taking the cost of dying in the UK up to an average total of £4,078 (an increase of 112% since 2004) – according to Sun Life’s annual study for 2017.

With such potentially large sums at stake, the wide variation in services provided and the increasing number of providers currently in the market, it may be essential to compare funeral plans very carefully before you commit to a purchase.

What do funeral plans cover?

When you compare funeral plans, probably the most important consideration is just what is covered.

Many funeral plans are sold on the premise that the whole of your funeral costs are covered. This is also the clear implication given by sources such as Citizens’ Advice. [Read more…]

A guide to improving your home’s security

You might think it’s something that doesn’t really need to be said, but you’d be surprised at how many people take a lax approach to securing their home. Of course, you don’t want your property to fall victim to thieves, which is why you should do everything you can to ensure it is as safe as possible.

This is perhaps even more important if you live in a high-value home in an affluent neighbourhood. Given that these properties tend to have more valuable contents than the average household, it shouldn’t be too surprising that these are often targeted by criminals more. Of course, the greater the value of items you own the more you will be left out of pocket if you suffer a break-in, so investing in adequate safety measures really is worthwhile.

home's security

Luckily, there are several ways you can go about making your house a safer, more secure place so you can rest easy in the knowledge that any would-be crooks will find it extremely hard, if not impossible, to force entry. [Read more…]

Scam Alert – Traded Endowment Policies

As more and more people try to take their existing assets and grow their wealth, more scams seem to come to the surface as well. People are usually out to make as much money as they can, and this leaves them open to being taken by deals that are just too good to be true. While traded endowment policies didn’t start out as a scam, they have definitely earned that label as returns fell and money was lost. In this article, we go over the concept of these plans, and why they’re such a bad idea in the first place.

A traded endowment policy is a premium insurance endowment policy. Like other products, they have not only cash value, but a maturity value as well. They are considered “participating”, which means that there are future bonuses. Unfortunately, no one knows what the bonus amount is actually going to be.

Traded Endowment Policies

They were a hot commodity about 8 years ago, because a lot of owners of these policies wanted to sell them off instead of having to turn them into the insurer. In other words, the secondary market allowed people to get a better deal, so that’s where they went.

Here’s where the problem comes in for UK people that felt like they were going to triple their money by investing in these policies: they were often mis-sold. If you’re told that something is safe by someone that you consider to be an authority, wouldn’t you take their word for it? That’s what many UK homeowners did, and it cost them dearly. All they wanted was to try to amplify their retirement savings, but many were left holding the bag. If you got a second mortgage in order to take advantage of this deal, then you basically multiplied your problems further. [Read more…]

GAP Insurance – what is it and do you need it?

It can seem these days as though there is insurance for everything. Car insurance, life insurance, pet insurance – the list goes on.

So when you hear of another insurance policy it’s easy to make a knee jerk reaction about it. Usually this reaction is “not another thing to pay for”, but for other people it’s “well I don’t really understand it but I should probably just get it anyway to be on the safe side”.

Neither of these reactions is good. You should never pay for insurance unless you understand it and are sure you need it, but equally you shouldn’t just dismiss it without proper consideration.

GAP Insurance

GAP insurance is one such product you should think carefully about. Guaranteed Auto Protection is an additional type of insurance that you can take out when you buy a car with a loan. When you buy your car, you take out a loan based on the value of the car at that time. But your car will start to depreciate in value the moment you drive it out of the dealership. If your car gets stolen or written off, your car insurance will cover you but they will only pay you what your car is worth now, not what it was worth when you bought it. So if your car was worth £8000 and you took out a loan for this amount you will still be liable for the full amount of the loan but your insurance company will not pay you the full £8000.

GAP insurance quite literally covers the gap between what you owe and what your car is worth. This can sometimes be thousands of pounds.

You should consider GAP insurance if:

  • You want peace of mind that should something happen, you don’t have to worry about finding the extra money to pay off the loan.
  • Your car is quite expensive, new or a luxury car – these depreciate in value faster than other cars.
  • You don’t feel confident about where you park your car and worry about it being stolen.

If your car has a low depreciation value or if you really can’t afford the additional payments, then consider GAP insurance policies carefully. As with all insurance policies, it could end up being something that never pays out, so some consider the “dead money” to be a waste. However it is important to consider that having a car stolen or written off is a stressful enough situation without worrying about money too, so the added financial protection really can be hugely helpful.

Why Yes, You Do Need Motor Bike Insurance

The thrill of riding a motor bike just can’t be beat. When the weather is nice, a motor bike gives you a type of freedom that normal motorists just can’t really understand. But you know what you want, right? You want that thrill and you want to make sure that you’re covered for any circumstance that might arise. Even if you’re a careful motor bike operator, accidents can and do happen. The weather can be a factor, but you also want to think about all of the other things that can really go wrong with while you’re on the road. Do you really want to leave that type of thing to chance? Not at all.

Yet so many people go with the most basic motor bike cover that they can find. Is that something that you should do, always? Not at all. You are much better off looking at the exact coverage that you really need. This would include raising the amount of money that would be paid out in the event of an accident. Do you really want to skip over supplemental money that you can use to cover from a major collision with a regular automobile? Not at all!

Motor Bike Insurance

If you’re going to get the best coverage — and not just in price, but in true cover — then you have to go online. There are a few benefits of going online for your insurance needs. One, you’re going to get the exact cover you need without running around town looking at the high street. That’s frustrating to anyone. You also fall more easily to advertising that’s supposed to lure you into thinking you’re getting the best deal. You might feel tired and not really looking to shop around. This makes it even more tempting to fall prey to ads that just don’t serve your needs. It’s much better to make sure that you’re looking online, where you’ll have a wide variety of different quotes to choose from.

Make sure that you’re as honest as possible when you’re filling out quotes. Some people get tempted to make themselves look better on paper. Honestly, in this day and age… an accident isn’t the end of the world. While some insurers will ding you severely for it, others realize that everyone is entitled to at least one mistake. That’s fair, right? You might not always be able to avoid collisions, but keeping a fairly clean driving history helps. In addition, don’t forget that time tends to heal everything — most insurers will only require that you go back 5 years. Everything before that is wiped clean, so to speak. This means that even if you’ve had some driving problems in the past with your motor bike, it doesn’t mean that you’re going to be stuck dealing with them forever.

Once you find the right coverage, you can purchase it right online. Be sure that you have a chance to really look at the fine print to make sure that you’re getting exactly what you’re looking for. We’ve said that a few times but it really does bear repeating. You have to really think about not only saving money, but having a policy that’s truly worth having. Good luck with everything that you have ahead of you and don’t forget to enjoy the ride!

How To Get The Best Term Life Insurance Quote

Term life insurance is an insurance policy that pays a benefit upon the death of the policyholder. Term life insurance policies have stated terms and do not build a cash value. When the term expires, the policyholder has the option of buying another term life policy, purchasing a whole life policy or foregoing life insurance.

Many factors affect the rate for term life insurance policies. Some of those determining factors include age, health, personal habits and credit. While age and gender are beyond anyone’s control, certain habits and hobbies can affect life insurance rates. For example, smoking and skydiving can both significantly increase life insurance rates. Young people, women, nonsmokers and healthy people with good credit and no risky hobbies get the best life insurance quotes. There are ways, though, to get a good life insurance quote even with some risk factors.


Smokers can get better life insurance rates if they quit smoking for at least a year. Some insurance companies require former smokers to be smoke-free for three to five years before they are eligible for nonsmoker rates. Life insurance companies are glad to offer lower rates to nonsmokers because they tend to be healthier and have longer life expectancies than people who smoke cigarettes. Term life insurance can cost up to three times more for smokers than nonsmokers.

Term Life Insurance

Health Conditions

Most life insurance companies require applicants to have a physical exam prior to the start of the policy. Applicants with a good report from the doctor will be offered a better rate. Certain health problems can make it hard to find affordable term life insurance. For instance, a person with high cholesterol has a higher likelihood of having a heart attack. That risk factor alone can lead to a higher term life insurance quote. However, health conditions that are being successful managed with medications and physician supervision have less of an impact on term life insurance rates.


Life insurance companies look at the personal history as well as the medical history of insurance applicants. Some of the records that may be reviewed include driving records and credit reports. A clean driving history and excellent credit will yield the best quotes for term life insurance. On the other end of the spectrum, a DUI or bankruptcy will likely cause the life insurance quote to increase exponentially. Applicants with minor driving or credit problems will get better quotes as their situation improves.

Risky Behavior

Hobbies such as surfing, rock climbing and skiing put the participator at a higher risk of death, making them a higher risk to the life insurance company. While the applicant may not think their favorite pastime is dangerous, failure to disclose the information may jeopardize a claim on a term life insurance policy.

It is important to tell the truth on term life insurance applications. In many cases, the agent or broker will tell applicants which risk factors are causing the quote to be higher than expected and give advise on how to lower the rate.

Income protection insurance

One of the most valuable resources for protection your financial stability is income protection insurance. An income protection insurance policy ensures that you and your family have the financial coverage you require to maintain your standard of living in the event of an illness or injury that leaves you unable to work for a period of time. The tax-free benefits of your policy can help you keep up with the costs of food, housing and other vital needs until you’re fit to return to work.

Income protection insurance, or IPI, fills an important need for working adults to maintain an adequate income in spite of illness or disability. While state-funded protection benefits may replace a percentage of your lost salary, these funds typically do not cover the realistic cost of supporting a spouse and children. Income protection insurance gives you the supplemental funds you need to live comfortably during an extended absence from your job.

Benefits and Limitations of Protection

In exchange for your premiums, income protection insurance provides tax-free income for a period of time stated in your contract. If you become unable to earn an income because of an illness or injury, IPI pays out benefits monthly or weekly to cover your living expenses until you are able to return to your job, or until the end of your coverage period. If you retire or pass away during the course of your coverage, benefits to you and your family must be replaced by your pension or other retirement funds, or by life insurance benefits.

IPI coverage

The tax-free status of IPI coverage means that you are not subject to normal income taxes. However, your premium payments do not qualify for tax relief, and tax relief from other benefits may be reduced or eliminated whilst you are receiving insurance benefits. If you are covered by IPI through your employer, your employer’s payments for your policy may be claimed as a business expense. This tax benefit may encourage employers to consider offering IPI protection as a benefit of employment.

Income protection benefits are only payable to policy holders who have become unemployed due to an illness, accident or disabling injury. These insurance policies do not cover job loss due to a voluntary resignation, termination or a lay off. Before you purchase a policy, review the list of exclusions carefully so that you are aware of any restrictions on your cover. For instance, many policies exclude income loss due to drug or alcohol abuse, self-inflicted injury, pregnancy, war or criminal activities.

The length of time that you may continue to receive benefits is restricted by your insurance policy. This limit ensures that you have the motivation to resume work once you’re fit to return to your job. If you change careers in the interim, your benefits may be reduced, modified or eliminated, depending upon the risk level of your new profession. While you’re unable to earn your current salary, IPI allows you to fulfill your obligations to your mortgage lender and other creditors, as well as meeting your household’s basic needs.

Income Protection Insurance Rates

In general, IPI is an affordable form of salary protection for healthy adults. Your age, the risk level of your occupation and hobbies, your health status and lifestyle factors such as tobacco and alcohol use may affect your insurance rates. If you have existing health concerns, such as heart disease or diabetes, you may have higher rates or be denied protection by some insurance companies.

The deferred period, or the length of time between the loss of unemployment and the pay out of your benefits, may affect your rates, as well. As the insured, you have the ability to decide how long you can afford to wait before you begin to receive your weekly or monthly payments. When you consider income protection insurance, consider how long your current savings would last, or how much financial coverage your state-funded benefits would provide before you would require IPI benefits to maintain your standard of living.

Comparing quotes for income protection insurance is fast and convenient when you search for affordable cover online. Compare quotes from multiple providers to find coverage within your price range. The cover you receive may make the difference between whether you can meet your financial obligations as you recover from a disabling illness or accidental loss of physical function.

Income protection insurance gives you and your loved ones greater peace of mind, knowing that you have the resources to cope with a financial crisis. An accidental injury or illness can strike any healthy adult. With IPI, you can rest assured that you will be able to provide for your family and maintain the costs of your household in the event of a disabling injury or a sudden decline in your health status.

Wedding Cancellation Insurance

Weddings are a once-in-a-lifetime’s event, that women have planed since their childhood. For grooms, getting married is a rite of passage that marks the steps that a boy takes to become a man. Without a doubt, weddings are perhaps one of the most special occasions that two people can share in their lifetime.

Weddings can be a complex event to coordinate, arrange services for, and to pull off. Investing in wedding cancellation insurance is the perfect way to safeguard the financial investments that go into planning a wedding. Wedding insurance is a cover policy that protects the financial investments for items like nonrefundable deposits, damages to property or possessions, theft and vandalism, and many other incidents that may occur leading up to a wedding.

Wedding Cancellation Insurance – What Does It Do?

Wedding cancellation insurance is insurance coverage that helps to protect the financial investment that goes into planning and orchestrating a wedding. Most wedding insurance cover policies are offered in a range of coverages usually in increments that range between ?5000, and ?50,000.  There are wedding insurance policies that offer coverage at higher levels.  Weddings are considered big events, regardless of their size. They are very complicated and complex events to plan, orchestrate, and eventually pull off.

There are a lot of deposits that must be made. There are a lot of outside vendors and suppliers that must be relied upon to do their jobs. There is a great deal of money that goes into producing a wedding. There are a great many factors outside of anybody’s control that can go wrong. Insurance cover for weddings is designed to give peace of mind to those people who have to invest in a wedding.

Wedding Cancellation Insurance

Wedding Cancellation Insurance – What Does It Cover?

Insurance coverage is limited by the maximum amount of the policy. When choosing insurance cover for weddings and other important occasions, make sure that the maximum coverage amounts is adequate for the function that the policy will cover. For weddings, it is important to make sure that the dress, rings, the wedding transportation, the wedding cake, flowers, and any other deposits that may be required, be covered under the policy.

An important question to ask is what happens if a supplier is unable to meet their obligations at the last minute. To find a suitable replacement may cost extra, and it is important to know if that extra charge is going to be covered by your insurance policy. [Read more…]