Adequate insurance needs to be arranged by winter sports fans

With winter now here there may be many people that are planning on heading out for a break to enjoy the exhilarating thrill of winter sports. This is the type of holiday that is hugely popular with many people, but is also the type of break that comes with increased risks due to the higher risk of injury. There are also higher risks posed because of the costly equipment that holidaymakers on winter breaks have to take with them, which can cost a fortune in the event of loss, theft or damage.

Officials are now urging consumers to ensure that if they do decide to take a break involving winter sports they take the time to take out the right level and type of travel insurance. Whilst some people may already have travel insurance or may take out a standard policy it is necessary to take out a special policy when participating in winter sports. Without this, the holidaymaker may find that they are not covered and in the event of an accident, injury or issue with equipment this could prove to be extremely costly.

When arranging travel insurance for winter sports holidaymakers need to make sure that not only are they covered against the increased medical and health risks that come with winter sports but that they also ensure that their costly equipment is also covered. With standard travel insurance a large percentage do not provide cover for any type of winter sports, which is why travellers need to check their policy before they head off on a winter holiday.

One official stated: “To ensure they get the right type and level of cover for their trip, people need to focus first and foremost on pinpointing the features they need.”

Tags: break, health, event, theft, winter, policy, winter holiday, whilst

Consumers warned not to cut back on health cover

Consumers in the UK are being warned about cutting back on their health insurance cover in order to save money, with one financial advisor claiming that the benefits of having health cover are too great to simply view this as something that can be cut back on. Read more

Tags: heart, health insurance, health cover, health insurance options, comparison sites online, return

Halifax: Bonfire night can pose risk to pets and home

Home and pet owners are urged to ensure they are properly covered with Bonfire night fast-approaching.

Many people hold private parties and are often unaware of the risks they are exposing their guests and themselves to when providing bonfire and firework entertainment.

Vicky Emmott at Halifax General Insurance explained that the presence of “explosives” means there is more potential than any other time of the year for “terrible accidents”.

“It is important to double check your insurance to ensure you are covered for fire damage to property, personal liability, and garden damage,” she continued.

“Those with cats and dogs may also want to consider pet insurance to protect their furry friends from the potential dangers of Bonfire Night.”

Research by Halifax has revealed that nearly 6 million people in the UK use lethal accelerants to get their bonfires going quickly, posing extreme health and safety risk to those present.

Post Office Home Insurance found that the most common insurance claims resulting from November 5th include, fires spreading to outhouses or homes, smashed windows, garden damage and personal liability for injury to guests or neighbours.

Tags: Fireworks, insurance claims, health, terrible accidents, safety risk, common insurance claims

Insurance cover could become fairer

New regulations and changes to the law could result in greater fairness for consumers that have various types of health insurance cover, as it means that there will be less of a chance of the insurance company being able to deny the claim.

In the past a number of insurance companies have been slated for denying claims from policyholders because of information that was or was not given at the time that the policy was taken out, leaving the policyholder with no way to claim on his or her policy.

Plans have been proposed by the Law Commission, which looks at the way that laws are applied in cases such as these, and if everything goes through successfully it means that insurance companies will not be able to refuse to payout on a claim because of lack of information provided when the policy was taken out by the claimant. Life and critical illness insurance policyholders may benefit the most, as the level of denied claims in these areas is quite high.

One spokesman from the Law Commission stated: ‘We have sought to bring insurance law up-to-date to reflect the reasonable expectations of insurers, policyholders and intermediaries. Our overriding objective has been to achieve fairness between both parties to an insurance contract, while recognising different levels of information about the insured risk and different bargaining strengths.’

However, insurance companies plan to fight against the changes. According to an official from the Association of British Insurers: ‘In effect, our members are operating to these standards anyway and are not forcing claimants to go to the Ombudsman needlessly. Many insurers have already made clear that they will not decline critical illness or life claims when the information that was not disclosed has nothing to do with the final claim.’

Tom Smith
26th July 2007

Tags: policy, changes, Insurance, health, holders, consumer

Smokers lose money on insurance premiums

Most smokers realize that by kicking the habit they could save a fortune each year, with many smokers spending thousands of pounds each year on cigarettes.

However, many forget that in addition to saving money on the cost of cigarettes, which can then be used for anything from luxury holidays to investments for the future, they can also save money in areas, one of which is insurance.

There are many different types of insurance cover, and the main ones on which smokers can save money include medical or health insurance cover, life insurance cover, and home insurance cover.

Smokers are classed as an increased risk when it comes to these types of insurance cover, and as a result of this increased risk most smokers pay considerably larger premiums than non-smokers, which adds to the overall cost of being a smoker.

When it comes to medical and health insurance, smokers are more likely to make a claim because of the health risks and illnesses associated with smoking, and therefore have to pay higher premiums. With life insurance, smokers are more likely to contract a terminal illness such as cancer due to smoking, and again as a result of this the cost of premiums are pushed up.

And in terms of home insurance, smokers are classed as an increased risk when it comes to fires in the home, and this also pushes up the cost of insurance premiums.

It is also thought that the number of people in the UK smoking in their homes, and therefore being classed as an increased fire risk, will increase, as the smoking ban in public places has now come into force in the UK.

Although many smokers now aim to give up altogether, which could boost their finances in many areas, many others will resort to staying in and smoking in the home rather than going out to pubs and clubs where they can no longer smoke.

Tom Smith
5th July 2007

Tags: more, Insurance, smoking, ban, house, increased, homes

Help for flood victims

As much of northern England and parts of Wales suffer at the hands of huge floods caused by torrential rain, Direct Line is offering homeowners information on how to make an insurance claim.

The firm has deployed hundreds of members of staff to the affected regions and help is being offered to those in need.

Flash floods have so far claimed the lives of three people and thousands of properties have been severely damaged by the water.

Rescuers say that water levels are beginning to subside but more rain is predicted for the coming weekend and residents are bracing themselves for another round of flooding.

Once the weather eventually returns to normal and people begin assessing the damage to their homes, many will begin thinking about making a claim on their insurance and that is why Direct Line has gone to the affected areas.

“Our main priority is to help people get back to normal as quickly as possible and with the least amount of inconvenience,” said Andrew Lowe, head of home insurance at the firm.

“Additional staff have been deployed to help manage the higher than average number of calls and we are prioritising those where people’s health and safety is at risk.

“However, we ask our customers to be patient with us as it is taking longer than usual to answer and deal with calls,” he added.

Customers are advised to take photographs of any damage caused and keep all damaged items. Electrical equipment and gas appliances should not be used until they have been thoroughly checked by a professional and redecorating should not take place for a number of weeks so that the property is completely dry.

Tags: flash floods, patient, home, property, Financial economics, flood victims, gas, health

Musical instruments can cause mayhem

As Valentine’s Day approaches (February 14th) the country’s romantic souls are being offered a few words of advice.

Allianz Cornhill Musical Insurance (ACMI) says that this time of year can often lead to accidents involving musical instruments as boyfriends try to impress their beau by serenading them.

According to the firm, many claims are lodged each year regarding damage or accidents involving a musical instrument and they have decided to disclose a few.

Among the most humorous was a claimant whose cello spikes got caught in clothing and led to him falling onto his instrument and breaking it.

Many claims are made regarding young brothers getting carried away in a bit of rough and tumble, only to destroy their prized musical instruments.

Finally, ACMI says it has even received a claim after a wasp flew down someone’s shirt, leading to a fit of panic and a smashed instrument.

“Some of our policyholders have come up with some ingenious ways to damage their instruments so we have become quite expert in providing risk management advice,” said John Feaver from ACMI.

“The advice in this case is quite simple: please don’t try climbing a ladder while playing a guitar or violin – it could seriously damage your health and your instrument.”

If you are considering taking out insurance for your instrument, it may be worth checking your current home insurance policy to see if it is already covered.

Tags: allianz, Manufacturers, finance, Types of insurance, health, clothing, firm, advice

Life insurance costs can rocket if you are overweight or a smoker

Although it has long since been known that life and health insurance companies charge higher premiums to consumers that are considered a higher risk, such as those that are very overweight or those that smoke, recent data has shown just what a dramatic difference smoking and excess weight can have when it comes to increases in insurance premiums, with many insurance companies charging over fifty percent more on policies to smokers and the very overweight than on policies to non-smokers and those not overweight.

The data suggests that insurance companies are really cracking down when it comes to what they consider are high risk customers, protecting themselves against increased risk of financial losses through charging a lot more on the cost of the premiums. These insurance companies look at high risk factors such as obesity and smoking when working out a policy, and those that come under the category of obese or smokers are seen to be a higher risk because they are more likely to make a claim according to insurance companies.

A life insurance manager at Sainsbury’s stated: “Health risks associated with smoking can have a big effect on life cover costs. It is vital for those that have kicked the habit to review their policies.” However, a number of pro-smoking organizations have raised concerns about the way that insurers automatically charge more to smokers than non-smokers, stating that the risk of a smoker under forty dying is no higher than that of a non-smoker.

A recent comparison study was carried out and this showed that on average smokers were charged around fifty six percent more on these insurance policies than non-smokers. The study was carried out through sending applications from two men of the same age to a number of the UK’s top insurance companies, and seeing what the price difference was based on one being a smoker and the other a non-smoker.

Tags: Insurance, cover, life, company, accident, emergency