Thinking About Your Home – Don’t Forget Buildings and Contents Insurance

If you’re going to make sure that your home is completely protected, you have a lot of work to do. The reality is that you can’t just stop at a good security system. You need to look into insurance protection that really gives you the chance to start over if the worst happens. That type of insurance is referred to in the industry as building and contents insurance. It’s more important than ever, especially as the economy begins to get worse. Here’s what you need to know.

You see, you get to go with an insurance package that will protect you when it comes to repairs due to fire, flood, and other natural disasters. The structure is covered, as well as the internal contents of the building. That’s the part that usually gets left out. When you’re buying your dream home, you n ever expect anything bad to happen. However, when things really start getting bad, you start wondering how you’re actually going to make all of the pieces fit together. You can have a really hard time getting things off the ground, when you really think about it. You have to be able to protect yourselves from all sorts of different scenarios. Being able to quickly replace items in the event of a fire is very important. It gives you a chance to start over without really feeling like you’re going to have to scramble to figure out where to get the money. Generally speaking, natural disasters tend to set a family back financially. You can protect yourself against this by investing in insurance now.

Contents Insurance

It can be awkward to find insurance an investment, but that’s what it really is all about. It’s about making sure that you have a backup plan in case the worst happens. Instead of having to shell out thousands of pounds, you can just pay your excess and keep going. If you have enough in your savings account to cover that, you can get your insurance claim paid out very quickly.

Going online for buildings and contents insurance is a good idea. Of course, you don’t want to just think about insurance in terms of price. This is a good way to get ripped off because you weren’t looking at the terms. Generally speaking, the cheaper the policy, the more restrictions are actually involved. You would do a lot better making sure that you’ve considered just about everything involved with your policy.

Some people will try to scrimp on this policy, thinking that a natural disaster couldn’t sweep through and take away everything they love about their home. However, you don’t want to play those odds at all. It’s too easy to wake up to all of your property destroyed, along with the things that you really can’t replace. Look into a great policy now before the worst happens.

You can always get separate contents insurance if you feel like you’re going to need more coverage than what you would get with a bundled package. It’s completely up to you, but you’re going to need to go do the research on your own. Good luck!

Going broke from a mis-sold PPI – It’s up to you not to jump into that situation

So much has gone on since the discovery that Payment Protection Insurance was widely mis-sold to millions of credit consumers throughout the country. For years people have gone broke because of the amount they paid to the insurance policy that never really helped them. Although it was introduced as a safety net for debt repayments in times of sickness, accident, or redundancy, it became more of a burden for a great majority of consumers as banks took advantage of the product and devised schemes to sell it even through breaching regulations.

PPI claims have begun to flood into financial institutions for the past several years. Complaints were made to banks that PPI has been totally useless to them and some were lied to when they tried to claim for cover – told that if they use PPI for the repayments of their debt as they were unable to for the meantime, their credit scores will be affected. What a scam!

mis-sold PPI

Then again, as the High Court ruled that those consumers who were wrongly signed up to the policy will have to be properly compensated, you’ll realise that you now have the opportunity to change the situation. It’s now up to you if you want to let yourself go broke by not taking heed of this chance.

Making PPI claims is not as complicated as some people said it was. In fact if you choose to make a claim by hiring an expert or do it yourself, you’ll follow the same process and go through the same turnaround time. Investigations to prove the mis-selling would usually take 6 or 8 weeks, given that the evidence presented is sufficient enough and the situation is less-likely to be complicated.

To start your claim, you will need to establish the existence of the policy alongside any of your finance agreements – be it on a credit card, loan, or mortgage. Check your documents for any reference to PPI and make copies of them, particularly those that indicate the amount paid to the policy and the duration of its existence. You will need to attach them as proof to your claim.

Then, put your claim in writing, stating how the mis-selling happened. In general, there are a lot of situations where mis-selling of PPI can happen. [Read more…]

With the NHS Available, Why Bother with Private Medical Insurance

It’s a blunt title, but we get this blunt question delivered to our email boxes quite often. A lot of UK consumers wonder whether or not it would even make sense to pursue private medical insurance. In a world where every single cost is going sky high, it’s a valid question. We sought to answer it the best way we could.

And the answer is mixed: it depends. It really does depend on where you are in life. If you’re someone that’s really thinking about branching out, getting things done, and protecting yourself from every angle then PMI might be for you. However, the cost seems to be the highest when you’re advanced in years. If you’re much older and in retirement, then PMI doesn’t make sense. You’ll have the same services that PMI would expose you to, but you might have to wait longer for them.

Private Medical Insurance

PMI is essentially about trying to get a better place in line than what everyone else is going to have to deal with, but it’s so much more than that. It’s about the quality of care that you wish to receive. If you know that you’re going to need medical tests that the NHS just won’t cover, you might want to look into PMI more than other people. However, you also get a consultant of your choice. If doctor choice is something that’s important to you, going into the private sector is definitely where it’s at.

We’re not knocking the NHS at all. There is a time and a place to look at the NHS, and it would be a bad idea to ignore it merely because you don’t feel that it’s necessary. The truth is that it’s very much a necessary part of our society. Even though UK consumers have two options, they have to go with the option that works for their unique situation. If you’re already stretching to make ends meet every month, you might have to just deal with the NHS coverage. However, if you know that you have the extra money, PMI could be the best thing you’ve had.

Here’s a few more tips to connect everything together. First and foremost, you really want to make sure that you’re looking at a policy that has a modest excess. The policy will be no good if you can never make a claim, as you already know. From here, you might want to look at any discounts that could come from paying multiple months at a time. Annually or semi-annually could lock in big savings.

You also want to look at any exclusions with the policy that might be a deal breaker for you down the line. The more information that you can get about your policy, the easier it will be to make good decisions. The ball is really in your court here with this, so don’t give up. Good luck!

1 Day Car Insurance

As you may well already know, car insurance in mandatory in the United Kingdom, unless of course you don’t intend driving you vehicle on any public roads. What many people in the UK don’t realise is that even if you’re simply driving a new car from the showroom to your home, you still need adequate insurance in place.

Perhaps your home is only a mile and a half away from the showroom, but if you get stopped by the police, and you don’t have insurance, they will treat you the same way they treat all drivers who get caught without insurance. In other words, you’re going to get a fine, you’re going to get points against your license, and they are not going to allow you to drive the car away either. Bear in mind that if this happens to you, insurance is likely to cost you more than it would otherwise have, simply because you will already have what they term to be a poor driving record.

1 Day Insurance Options

Now, even though the law requires you to have insurance, you do however have several options available to you, each with its only set of benefits. For example, at the very bottom end of the scale you have third party, fire and theft cover. This cover is the cheapest and most basic. Generally speaking, it covers you against fire damage and/or theft and it also covers any damage to a third party’s property. For example, if you were to hit someone, this type of cover would pay for all damage to the other driver’s car, but it will not cover the car you were driving.

Distracted dangerous driving

On the opposite end of the scale you get fully comprehensive cover. This is the most expensive form of cover, but has the most benefits. Basically, fully comprehensive cover covers virtually everything. If you’re in a collision, you insurance company will pay for all repairs and/or replacements concerning both your own car and the other person’s car. Depending on what exactly you’ve opted in for, this type of cover may very well also cover any belonging you may have had in the car, whether they got damaged in an accident, or whether they got stolen from your car.

Of course, even though insurances policies are much the same, irrespective of which insurance company you choose to use, the cost of those policies can vary tremendously from one provider to the next. Shockingly enough, the difference can amount to hundreds of pounds per year. When it comes to temporary insurance, or at least 1 day insurance, the difference in rates can be even more staggering.

Example of getting 1 Day Car Insurance

Why would anyone want or need 1 day car insurance? Buying a new car is just one example. Another example would be if you intend purchasing a secondhand car, but you plan to carry out quite a bit of work on it before actually taking it on the road. 1 day insurance would allow you to legally drive the car home, and of course then you also would be paying for insurance even though you’re not even using the car. Perhaps you don’t own a car of your own, and a friend has told you that you can use his or her car over the weekend. Just because you friend has insurance, that doesn’t mean you’re entitled to drive under their cover, unless their policy includes “all drivers”, which is not very likely because such privileges cost quite a bit extra.

Temporary cover or 1 day cover can also sometimes save you money if you intend hiring a car, but here again, a lot depends on who you get your cover from. Don’t for a minute assume all the large insurance companies are out to offer you a great deal. To the contrary, many insurance companies don’t like providing 1 day cover simply because when that cover expires, you could end up going elsewhere. As such, they would much rather have you sign a one year contract. To stay competitive, they have to offer short term cover, but that doesn’t mean they want to.

If for whatever reason, you require temporary insurance or 1 day insurance, it’s always best to look for a provider that actually specializes in this type of cover. This is what they do, so they don’t really have any reason to bump up the premiums just to make longer term insurance seem more appealing. Quite often, insurance companies will say that drivers requiring 1 day car insurance pose a higher risk, but here again, this is nothing more than a feeble attempt at justifying over-inflated rates.

Is the Cheapest Insurance, the Best?

It can often be tempting to go with the cheapest insurance policy. With many people struggling for money, they may want to cut their expenses as much as they can and finding cheaper insurance is an option. However, the cheapest may not always be the best.

Whatever you are buying, you need to consider value for money. If you pay very little for something, then it will often not be such good quality as more expensive items. You may not think this matters, but it can do, when it comes to insurance.

If you never make a claim then it is not relevant. However, many people do claim on insurance and it is then that you want to get a good service. You want the staff to be quick and efficient so that things are sorted out as soon as possible. You want to make sure that you are covered for everything you need so you get the money back that you are expecting. If you pay less money, then you may find that you get less than you were expecting.

Cheapest Insurance

To avoid disappointment it is important to know exactly what you are getting or your money. This means that you will need to read the terms and conditions of the insurance policy. This could be tricky as often they are not very readable or have terms in that are not easy to understand. Another alternative is to check with the customer service staff. Ask them whether you will be covered for certain things and what you will get from the insurance.

It is good to talk to them anyway because you will get an idea of how friendly they are and how knowledgeable. When you make a claim this could be very important.

It is good to have an expectation of what you want from the insurance and to make sure that you will get that. For example make sure that you get a courtesy car while yours is being repaired after an accident or that your contents are insured against theft outside of the home, if you think that they should be.

So you do need to be careful as there are reasons why the insurance is cheaper. You will be getting less cover, but it may not be in a way that is important to you. Just make sure that you are getting the cover that you need and expect and then you will know whether the policy really does offer good value for money.

Deciding Whether to Bother With Insurance

Insurance can be a lot of money and if you are already struggling financially, then it can be tempting not to have any. Some people have the cheapest insurance, some have the minimum and others do not bother. It is worth considering the consequences of this though.

You will find that if you have a mortgage then your mortgage company will insist that you have life assurance and buildings insurance. You will also be legally required to have car insurance if you drive. With paying out all of this already you may decide that you do not want any more insurance or if you have no mortgage you may decide not to bother with the life or buildings insurance.

It is important to think about the purpose of insurance. It is there to give your peace of mind. If anything happens then it will pay out the help you. For example, if your house burns down, then you will be able to get the insurance to pay out to rebuild it and pay to replace the contents. This is something that you are unlikely to be able to afford to do yourself. Life insurance will pay out to help your loved ones cover costs after you have gone.

Bother With Insurance
Although the monthly cost of the insurance can be a burden, you have to consider the consequences of having it. Some people will still think that it is not worth it. It will depend on whether you have dependents who would benefit from a pay-out for one thing and whether you could afford to replace something that is stolen or damaged. You may decide that mobile phone insurance is not worth it, but perhaps that buildings insurance is as you could afford to replace a phone, but not a house.

You may also feel much safer knowing that you have insurance. Knowing that if something happens that you will get some money to help can give you peace of mind, especially if you do have a family to think about. Protecting against a risk is always a gamble as you never know whether you will use it or not, but it can help you to feel more relaxed and that can be worth a lot.

You need to calculate whether you can afford to be without the insurance really. Think about the cost of not having it and whether it is best to have it or not. It is hard to predict the future but you need to consider what the risk might be and whether you think it is worth insuring against.

Required Business Insurance

There is some insurance that anyone owning and operating a business in the UK must have. There are additional coverage policies that merchants can buy, but the following are coverage types that are required by law for your store to be operated in the UK.

The first policy you must have in effect is an employer’s liability policy. It does not matter if you are a small merchant and have only one employee, you must carry this type of coverage. This policy will protect your employee should they sustain an injury at your place of business, or become ill due to something related to their job duties.

The second type of coverage that is absolutely mandatory is a public liability policy that will protect anyone who does not work for you if they should be injured on your property. This policy type will also cover damages their property might sustain as a result from something, or someone who is working for you at the time of the damages.

Business Insurance

The third main policy you must carry is product liability coverage. This will cover you in case someone claims that the product you make caused damages to their personal property or to them. This coverage extends to the supply of products you make to other commercial merchants, and will cover the legal expenses you may incur, as well as covering the amount you need to pay in order to comply with any court rulings against you.

Professional indemnity is required of any business that offers investment advice, in any form. This is not a compulsory policy for all businesses, but it will protect you in the event that a client files a lawsuit claiming that you gave them poor advice or services, and as a result they suffered some type of loss. You cannot afford to operate a business that gives financial advice without having a professional indemnity policy covering all possible claims.

Accidents cannot be predicted, or they would not occur, and anytime you are working with the public you will find that people cannot be predicted either. You must protect yourself from lawsuits, and injury claims, if you are to stay in business.

NK master cylinders

The master brake cylinder is used to convert the pressure caused by the foot of the driver hitting the brake pedal into hydraulic pressure. This allows to push the brake pads against the drum or the disc (depending on what brake system the vehicle uses), that is attached to the wheel and thus slowing the car down.

Pressing the brake pedal pushes the primary piston through the bore of the master cylinder. This creates hydraulic pressure due to the brake fluid the master cylinder is filled with. That pressure moves the secondary piston forward. When the bypass holes are covered by the movement of the pistons, the hydraulic pressure increases and pushes the wheel cylinders. After the driver lets the breaks go, the master cylinder is refilled with brake fluid.

For safety purposes, the master cylinder controls two separate systems, each responsible for two wheels. If a leak occurs in one of the systems, the other will not be affected by it, and so the car will still be able to slow down.

NK master cylinders

The main cause of master cylinder failure is corrosion. Therefore, it is important to choose a product made of a high-quality metal, such as the ones offered by NK. NK master cylinders are covered with anti-corrosion coatings that ensure that they will function properly for a long time.

A malfunction of the master cylinder can be detected, if you notice a trail of brake fluid coming from your car. However, this could also indicate a problem with another component of the break system. Have your car examined by an experienced auto mechanic in order to discover the real problem, so you don’t replace the wrong part. If the master brake cylinder is damaged, the mechanic will install a new one. For a better and longer performance ask for a NK master cylinder.

Info provided by www.BestPartStore.co.uk

Mis-Sold PPI: The story so far

Payment Protection Insurance or PPI is a form of insurance policy created to allow the borrower to keep paying their mortgages and loans in case of unemployment, illness or other conditions that hinder the payment. PPI is usually purchased as an add on or a standalone policy and under normal conditions this policy is sound, however the application has been riddled with holes from issues with loans with mandatory PPI policies, case by case applications of the policy and disputes with refunds of unclaimed PPI. In most of the complaints brought to the ombudsman, the complainants didnt even know that they were sold the policy.

Investigations into these cases have found that the brokers who approved the loans were motivated to sell PPI because of the commissions they would get. They then began selling the insurance to their clients without the latters full understanding or need for the policy. In most cases of mis-selling, the policy became of no use to the buyers and has only given them headache, prompting a well merited future appointment with the financial ombudsman. Because of the unceasing complaints that have turned up, the City watchdogs (FSA) examined previous PPI sales, which led to a very interesting court battle. Among the many items that were found were:

Brokers describing PPI as a necessary add on to approve a loan
Brokers not properly explaining the policy completely
Payment Protection being sold to people who were already sick and unemployed
An estimated 16 million mis-sold PPI cases in the last decade

The alarming rate of these illegal activities and amount of evidence that showed up has led to the banks losing the case thus allowing many of mis-sold victims to get their money back. This victory meant that the lump sum and all consecutive payments with interest due to mis-sold PPI will be returned to the victims. If you’re currently under a plan with mis-sold PPI, all PPI payments will be returned and future payments plus interest will be cancelled.


If you were mis-sold or have reason to suspect your current or previous loans then you can rest assured that the ombudsman and the courts will be in your favour. Just remember to keep your documents ready, work with your local authorities and be patient with the process. You may also seek the help of a PPI info claims company, but they will be taking some of the money you receive.  It may take some time, but it may well be worth it as your claim may even be repaid with additional compensation.

A Game Plan for Your Insurance in 2013

It’s time to mark your calendar, whether it’s made out of card stock and hangs on the walls or if it’s a fancy web calendar, because it’s a new year, and it’s time to make sure that you have the right types of insurance once again. If you have a type of insurance that you don’t need or haven’t re-shopped your insurance policies, you could be wasting a lot of money. If you don’t have insurance that you do need, you could be putting yourself at a lot of risk.

Here are some steps to make sure that your insurance is ready to go for 2013 and beyond:

Check Up on Your Life Insurance – If you’re in relatively good health, mark a date on your online calendar to re-shop your life insurance quotes online. If you have whole-life, consider switching to more affordable term insurance. If you don’t have any children or have adult children that aren’t dependent on your income, ask yourself if you really need life insurance at all. If you have a wife and kids and don’t have any life insurance, you should beat yourself up, get a quality term insurance policy so that your family is protected.

Reconsider Your Car Insurance – If you have a vehicle and are paying for collision and comprehensive insurance, make sure that it actually makes sense to do so. If your vehicle is worth less than £5000, and you’re paying for these extra insurances, you should probably not be wasting your money by insuring something of such little value. If you’ve bought a new car and are only carrying minimal insurance, consider upping it.

Review Your Health Insurance – If you’re getting employer provided health care, you’re probably stuck where you are, but if you buy your own health insurance, you should probably go out and check and make sure you have the best health insurance. Not all health insurance companies are the same and there are some that are notorious for turning down claims, and there are others that provide great customer service, so make sure you’re with a good company by reading reviews of it online.

Eliminate Wasteful Policies – If you are paying for pet insurance, mortgage-life insurance, cancer insurance, or any other policy that most people don’t have, you might be insuring something that’s really un-necessary. If you get cancer, your health insurance will pay for the bill, you don’t need a separate policy that will pay your bills if you get cancer. It’s kind of like signing up for both Flickr and Facebook for photo sharing, they do exactly the same thing, so there’s not much need to do both.

Finally, you should check up on your home insurance policy. Make sure that it will cover the current value of your home. Although the market is down a bit, some have still appreciated significantly in the last 5 years, so make sure the dollar amount on your policy matches the value of your home.