Overview of the Insurance Industry
If you own any form of property, whether is on wheels or a house, it’s wise to insure it as who knows what may happen. Finish work and find your car smashed into in the car park or even get home and find your house is flooded through these are both causes for claims and without insurance you are looking at paying for it yourself. Car Insurance If you own a car, insurance is not just an option, it is a legal necessity. And you wouldn't want it any other way. If you are involved in an accident or have your car stolen, owning the right kind of motor insurance can help to ease a difficult situation. Car insurance protects you against financial loss if you have an accident.
It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy. Car insurance is the probably the most costly side of owning a car, which sometimes can even be as expensive as servicing, repairs and MOT’s and road tax, especially if you’re a younger a driver or those of you who find it difficult to get a cheaper quote. There are 3 types of insurance available to you when coming to insure your car:- Third Party – This is more than likely the cheapest you can buy and the simplest option; it is a requirement by law for any vehicle on the road. In short this policy means that if you cause an accident, any damage caused to someone else’s vehicle will be paid for and they won’t be left out of pocket.
With third party insurance, damage to your own car will not be covered, neither will you be in a position to claim if your vehicle is stolen. Third Party, Fire and Theft – This is one step up from your “third party insurance” As well as covering damage to another vehicle you are also covered on your own vehicle if It is covered against theft or damage caused by fire. Comprehensive Insurance - This is a bit more expensive than the other two insurances as it will cover both your own accident faults and those of others. Also you are covered for damages caused by someone else if that person’s insurance cannot be claimed on like a hit and run accident. Using a broker like Isure insurance is a great way to find good quality car insurance at good prices also it saves you time searching for the right company, one form filled in or one conversation and its all done for you. Bike Insurance Bike Insurance should be thought of as priority, its doesn’t need to be made out to be as hard as it is though. The key part you need to be aware of is that riding a bike without the right insurance is against the law.With so much traffic on the roads nowadays, and the amount of traffic problems experienced on the roads, Bike Insurance is a must. As a consumer you are entitled to know everything about the insurance policy and where to get one from.
This information should allow you to locate a underwriter or a broker like Isure Insurance who can assist you in finding the best coverage for your Bike Insurance. More and more people are tending to use Insurance Brokers like to help them find the best insurers or underwriters to suit their needs. There is however, no such thing as a perfect insurance company for your bike. Van Insurance Like Car Insurance, Van Insurance can vary as it does have to consider many rating factors before you get a Van Insurance price. Vehicle weight is an important rating factor, small van insurance will be cheaper than transit van insurance this is because the smaller vans are easier to control and so fewer accidents occur in these. Other rating factors are similar to those of cars, those who live in cities are thought to be more likely to have a accident, as they will be around more hazards; therefore it is quite normal for someone who lives in a city to have a higher quotation than someone living in a rural location. Age as always is a factor within getting insurance younger persons will be thought of as a higher risk due to less driving experiences, it’s not always just the age that’s taken into consideration but the age of the vehicle as well. Home Insurance Your contents insurance or buildings insurance is there to protect your property and your possessions. There are a few things within our household that are more valuable than our home and our personal possessions. Home can be not only the most valued commodity in our lives but the content is as well in sentimental value as well as cost.
Although home insurance is not a legal requirement its one that we should all consider as is our home really worth the risk? In the UK alone 1 in 3 people get burgled once in their life time. And at least a quarter of homes are not covered by any home insurance. But its not only being burgled that is a threat to our homes and possessions but nature itself like floods, high winds and storms, and accidents like fires and spillages that could have a high priced affect to fix. Most insurance companies today give discount to those who take both buildings and contents insurance with the same Insurer. Best idea is go to insurance and shop around for the best quote you can find.