Are you covered for bonfire night?

Homeowners are being advised to make sure that they check their home insurance policies and plans before the festivities of Bonfire Night, as they need to make sure that they have the right level of cover for their needs and to ensure that they have adequate cover in place in the event of accidents or injuries. Many people do not even think about the fact that they may not have adequate cover in place and therefore any incidents that take place could end up costing them a fortune.

Whilst households may have insurance cover in place there is a chance that certain things are not covered on their policies, and this is what officials are urging households to check before Bonfire Night comes around. For example, if you are having fireworks and a bonfire in your garden your insurance cover may not offer any public liability protection in the event that someone is inured or worse on your property, which would effectively be your responsibility.

Officials have said that every year thousands of people are injured at bonfires and fireworks parties and households that do not have the right level of protection in place could find themselves in very hot water in the event of an injury occurring on their property. A quick phone call or just checking your policy could enable you to determine whether you have the right level of cover in place and if not you can upgrade your cover before November 5^th.

One home insurance expert said: “For those hosting a fireworks party at home, it is essential to ensure your home insurance policy is up to date and that you have adequate personal liability cover. In the event of an accident such as someone getting burnt on the bonfire, you could find yourself liable for any injury or damage if you are not covered by insurance.”

Tags: public liability protection, chance, bonfires, phone, date

What happens if your airline goes bust?

Over recent weeks two airlines have spectacularly gone bust, leaving many passengers stranded and many others wondering whether they will ever see the money that they forked out for their holiday again. The global credit crunch and the soaring cost of fuel has left many budget airlines really struggling, and over recent weeks both airline Zoom and holiday firm XL have had to call it a day. Read more

Tags: GBP, credit, chalk, money, day, date

Smart saving with a regular savings account

We all know how difficult it can be to get into the habit of putting a little money aside each month for a rainy day or even for emergencies, and even with the best of intentions many of us never get round to transferring that cash into our savings account, finding other ways to spend it instead. And when a special occasion comes around or we need some extra cash to fund a special purchase it can be very disappointing to look at our savings account balance and realize that there is very little there to rely on. Read more

Tags: month, best of intentions, date, bank, offer, cash, extra cash, savings accounts

Financial etiquette ‘needs tightening’

British consumers need to tighten up their financial etiquette, according to a new survey carried out by CreditExpert.co.uk.

A survey of 1,500 adults shows that over two-fifths of Britons would lend as much money as possible to a friend in financial difficulties.

CreditExpert’s research shows that Londoners display the greatest generosity to their friends, with nearly half (47 per cent) indicating that they would help out a friend in need.

When buying drinks at social occasions, almost half of people also say they would buy an entire group a round of drinks.

Dating Britons also appear reluctant for someone else to take care of a dinner bill, with four-fifths contending that the person who invited the date should pick up the bill.

Jim Hodgkins, managing director of Credit Expert.co.uk, said: “We’re regularly faced with financial etiquette dilemmas and as well as being important from a social standpoint, they’re also significant financially.”

He added: “It’s all well and good buying drinks for everyone at the bar – but it doesn’t always pay to be generous. If you’re running up debts that you can’t pay off, you could be damaging your credit rating.”

Tags: cent, social occasions, good, credit, group, date, finance, buying drinks

Saga issues travel insurance warning

Holidaymakers who purchase their travel insurance well before they leave are more likely to successfully claim all their money back than those who do not get covered until the last minute.

According to new research, 68 per cent of people who buy their insurance well before going on holiday can claim their money back should the trip be cancelled.

This number is far lower (52 per cent) for those who purchase their insurance in the week leading up to the trip.

Saga Travel Insurance, the firm behind the research, points out ten per cent of respondents revealed that they had lost out financially in the past because something had gone wrong before they had bought insurance.

The most common causes for a trip being cancelled include a travelling companion falling ill or having an accident and family bereavements.

“This research clearly demonstrates the need to secure insurance well before you plan to travel as the cover is in force from the date it’s purchased, not just whilst you are actually away,” said Andrew Goodsell, chief executive of Saga Group.

Saga is also telling holidaymakers to make sure that they have a European Health Insurance Card (Ehic) before travelling anywhere within the EU.

It allows EU residents to get medical care in any EU country and replaces the old E111 form. However, 29 per cent of respondents were unaware that the E111 is no longer valid.

Tags: research, European Union, Financial economics, trip, Ehic

Happy birthday Banking Code

Today (March 16th) marks the 15th anniversary of the UK Banking Code.

The code is voluntary but sets out the standards for good banking practice which financial institutions should use as guidelines when dealing with customers.

Once a financial institution has subscribed to the code its compliance with what is set out in it is monitored by the Banking Code Standards Board and the code itself is monitored by regulators and consumer groups to ensure that it is up to date and fair.

This regulation, says the British Bankers’ Association (BBA), is what makes the code so strong.

“Whether they’re saving or borrowing, customers deserve a fair, transparent and responsible service,” said Angela Knight from the BBA.

“As one of the three trade associations sponsoring the Banking Code we are proud to be celebrating its 15th birthday.

“The members of our three trade associations include banks, building societies and credit card issuers so we see the issues that are affecting our customers and we see how the industry responds. The Banking Code gives us a way of setting real obligations and real benefits for customers,” she added.

The code, which is jointly owned by the BBA, the Building Societies Association and Apacs, the UK payments association, is formally reviewed every three years.

Tags: date, anniversary, investment, Angela Knight, Economy of the United Kingdom

Stamp tax just got easier

An update to the Stamp Taxes Online website could considerably speed up the process of buying a house for many.

Those wishing to submit stamp duty land tax (SDLT) returns online will now be able to receive their certificates electronically, rather than waiting for the paperwork to arrive in the post.

It means that the time between getting a mortgage and moving into a new home will be dramatically reduced.

Stamp Taxes Online was launched in August 2005 and has proved remarkably popular, with over 370,000 of us submitting our SDLT returns in this way.

HM Revenue & Customs says that doing SDLT returns electronically, homebuyers cut down on administration time and are assured greater accuracy.

“We know that Stamp Taxes Online has been incredibly popular to date, and this enhancement will speed-up processes considerably,” said Jim Ferguson, Stamp Taxes’ business director.

“Being able to receive SDLT certificates within a few moments of submitting returns, will be of enormous benefit to busy practitioners working in today’s booming property market.”

If you are in the process of buying a new home and need to submit your SDLT returns it may be worth trying to file them online, potentially saving you time and guaranteeing the accuracy of the information provided.

Tags: house, Rationing, SDLT certificates, business, post, date, Public economics