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Know Your Own Worth: A Practical Insight Into Covering Up
Almost anything can be insured these days: breasts, legs, your goldfish, your mental health, physical health, your own life, your child's life. You can insure against the bad weather, good weather, political events?. This week in Scotland, triathlon competitors were insured for £1 million in case they were injured by the Loch Ness monster according to the BBC?.life insurance perhaps? It would seem that recent rumours of Nessie seeking a more exotic meal of wild venison and exploring the loch shores have finally reached the corporate world. ( http://www.lochnesstooth.com/ ) But is Nessie the real monster in this, what other terrible creatures lie hidden in the complexity of insurance documents? The insurance small-print is usually the last thing most people take to bed to induce a soporific state and who could blame those opting for Dick Francis, Gilly Cooper or Joan Collins? In terms of personal insurance, there are eight general areas of insurance in which the consumer should be interested: * Buildings insurance * Contents insurance * Life insurance or life assurance * Health insurance * Family legal protection * Pet insurance * Travel insurance * Car insurance Buildings insurance covers your property against damage typically caused by fire, flood, subsidence damage, temporary accommodation and the cost of replacing broken or lost keys. External buildings in the vicinity of the insured property may also be covered, such as sheds and garages. The website, yourable.com which provides insurance information for disabled people, makes the statement that building insurance should be the bare minimum people take out, not only to protect the property, but to protect the mortgage. Alongside buildings insurance, contents insurance should also be considered. Contents insurance is frequently packaged with buildings insurance and covers your furniture, equipment and personal belongings against fire, lightning, flooding, theft or vandalism. Accidental damage can be included, but may be sold as an optional extra. Yourable.com advises that the three main priorities when taking out building (or content) insurance should be: * To decide how much cover you want - the more you want covered, the higher the cost. * To decide what excess you're prepared to pay - the site advises that in most cases, increasing the excess will reduce the premium * To identify any particularly expensive single items in your home, including costly adaptations to the home * To isolate any property which is regularly taken outdoors, as contents insurance may also protect bicycles, money and credit cards etc Health / medical insurance typically covers private treatment for an operation or illness and may be extended to include specific circumstances or events such as specialist consultations and out-patient treatment like physiotherapy. Family legal protection may provide some financial assistance in the event of involvement in a court case. Such insurance normally covers contract disputes, personal injury claims, employment disputes and jury service. Pet insurance is often widely available for cats and dogs, though sometimes is less common for other animals, the cost of kennel and cattery fees are normally covered in pet insurance policies. Travel insurance and the importance of shopping around for the best policy, has been widely publicised recently, with consumer website moneynet ( http://www.moneynet.co.uk/ ), in particular, urging consumers to shop around for the best deal, including undertaking some research online. Some of the high street players who offer travel insurance, such as Thomas Cook and Travelcare, levy premiums that are typically twice as expensive as purchasing cover online. With regard to car insurance, there are three types of policy available: 3rd party, 3rd party (fire and theft) and comprehensive. Third Party is the most basic and will cover damage to third party property, usually with some protection for legal expenses. This compares to comprehensive, where additional protection is available for damage caused by theft, attempted theft, fire, lightning and other adverse weather conditions. ********************** For further information: http://www.moneynet.co.uk/insurance/index.shtml (Consumer information on life insurance, motor insurance, travel insurance, household insurance, student insurance and mortgage life insurance) http://www.lochnesstooth.com/ (Some lighter reading post insurance homework) http://www.cashzilla.co.uk/ (Some light hearted banter on personal finance issues) http://www.youreable.com/TwoShare/getPage/09Money/Site/Introduction (Finance information for disabled people) Rachel writes for the personal finance blog Cashzilla: Cashzilla is a personalfinanosaurus and a source of personal finance wonder.
Latest News:Site: Yahoo! News Search Results for news Futures flat; Lehman buyout news, data awaited (Reuters via Yahoo! News) Stock index futures were little changed on Friday as investors awaited news on the fate of Lehman Brothers after a slide in its stock this week heightened fears over whether the investment bank can survive. Myanmar's Suu Kyi to get family letters, news mags (Reuters via Yahoo! News) Detained Myanmar opposition leader Aung San Suu Kyi has managed to wring small concessions from the ruling generals in the form of letters from her family and some international news magazines, her lawyer said on Friday. SEC Looks Into UAL Stock Scare; Implications For Online News? (CBS News) A ton of digits have been devoted to this in other spots but the SEC's decision to investigate takes it to another level. The backstory: a six-year-old news story about UAL declaring bankruptcy made it into the Tribune-owned Sun-Sentinel 's current news flow, was picked up by a Google (NSDQ: GOOG) News bot and, via a reporter for a newsletter, made it onto Bloomberg News. After a lot of buck ... JCDecaux in talks for News Outdoor Group in Russia (AP via Yahoo! News) French outdoor advertising firm JCDecaux SA said Thursday it is negotiating to buy Russian rival News Outdoor Group from global media company News Corp. News Corp tightens grip on Premiere with new CEO (Reuters via Yahoo! News) Rupert Murdoch tightened his grip on German pay-TV broadcaster Premiere by appointing News Corp executive Mark Williams as CEO in a move to get the company back on track. Phila. mayor to announce grim budget news (The Philadelphia Inquirer) The Nutter administration is expected to announce grim budget news today, which is all but certain to lead to significant spending cuts - perhaps as high as 10 percent - in some city departments, according to three sources familiar with the budget. Help News pick Stadium's greatest moment (New York Daily News) The News is marking the countdown to the final game at The House That Ruth Built by reflecting on Yankee Stadium's greatest moments - and we're asking you - the reader - to help us pick out the best of the best. JCDecaux and News Corp. in talks to combine outdoor ad groups (International Herald Tribune) The News Corp. chief executive, Rupert Murdoch, has recently expressed nervousness about investments in Russia, where News Outdoor generated the bulk of its revenue last year. SEC Looks Into UAL Stock Scare; Implications For Online News? (paidContent.org via Yahoo! Finance) A ton of digits have been devoted to this in other spots but the SEC's decision to investigate takes it to another level. The backstory: a six-year-old news story about UAL declaring bankruptcy made it into the Tribune-owned Sun-Sentinel's current news flow, was picked up by a Google News bot and, via a reporter for a newsletter, made it onto Bloomberg News. JCDecaux in talks to buy News Corp. billboard unit (AP via Yahoo! Finance) In a deal that would create the world's largest outdoor advertising company, French conglomerate JCDecaux SA said Thursday that it is in talks to buy Russian rival News Outdoor Group from global media company News Corp. Site: news - Google News News Analysis A Difficult Road Awaits Panetta at the CIA - New York Times
MORE RESOURCES: Site: Yahoo! News Search Results for insurance NC insurance commissioner orders lower auto rates (AP via Yahoo! Finance) North Carolina State Insurance Commissioner Jim Long on Thursday rejected an industry request for an almost 13 percent increase in auto rates and has ordered a reduction instead. Auto-insurance rates in N.C. ordered cut by 16.1 percent (Winston-Salem Journal) N.C. Insurance Commissioner Jim Long rejected yesterday an industry request for an almost 13 percent increase in auto rates and has ordered a reduction instead. Survey: Insurance Industry Expects Subprime Issues to Negatively Impact 2009 Performance (Insurance Journal) Insurance executives expect subprime and other credit issues to continue to have a significantly negative impact on the industry's financial performance in 2009, and they see credit and pricing risks Nevada Names Baker Acting Insurance Commissioner (Insurance Journal) The Nevada Department of Business & Industry named Betty C. Baker acting commissioner of the Division of Insurance. Baker will oversee the Division while a replacement is sought for Alice Molasky-Arma Here's the lowdown on 'private' bank and broker insurance (USA Today) Q: I've noticed several banks and brokerage firms claiming they have private insurance that protects accounts above the FDIC and SIPC limits. Should investors trust those promises? State unemployment insurance claims up (Macon Telegraph) The Georgia Department of Labor announced Thursday that 59,090 laid-off workers filed first-time claims for unemployment insurance benefits in August, an increase of 72.1 percent from August 2007, but a slight decrease from July to August this year. Fitch Ratings Gives Island Insurance an "Aq" (Insurance Journal) Island Insurance Co. Ltd., Hawaii's largest locally owned and managed property and casualty insurance carrier, has reaffirmed its "Aq" rating for Quantitative Insurer Financial Strength (Q-IFS) by Fit Looking for Free or Low-cost Health Insurance? (Carteret County News-Times) (ARA) - It's no secret that accessing health care is a challenge for the 47 million Americans who are uninsured. Lack of health insurance forces many Americans to choose the health care they receive based on what they can afford, not what they actually need. Uganda: Health Insurance May Face NSSF Fate (AllAfrica.com) The government has finally resolved that all salaried workers and employers, will with effect from July 2009, be required to make compulsory contributions to the new National Social Health Insurance Scheme. The net inflow from life insurance companies into equity stood at Rs550bn till March 31, 2008 , foreign institutional ... (India Infoline) The life insurance industry was the largest investor in the Indian equity markets, ahead of foreign institutional investors and mutual funds, according to the reports. Site: insurance - Google News Obama Plan for Government Insurance Draws Criticism - Bloomberg
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