BUILDING CONTENT INSURANCE

No one can predict a fire. No one can tell when a break-in or robbery might occur. But these things happen every day in the world. And the truth is, everyone is at risk.

That's why it's best to get protection for yourself and for your home.

Buildings insurance

Buildings insurance usually covers the structure of your home and any fixtures or fittings, garages, drives, fences, walls, out-buildings, swimming pools and tennis courts, etc.

Insurance cover includes the cost to repair or rebuild your home if it is damaged to a set rebuild cost although some insurance companies have an unlimited level of cover . Standard cover is new for old and applies to specified perils. i.e. fire, lightning, earthquake, storm, flood, burst and leaking pipes, theft, vandalism, collision by vehicles, aircraft and animals, falling trees, subsidence, heave or landslip.

Buildings insurance is not only a necessity for homeowners with a mortgage; it's a requirement. The amount of coverage should allow for the assessed value of rebuilding the damaged or destroyed property. For permanent structures, this number is found in the valuation report, which can be provided by your local estate agency. If you are under-insured, it can affect coverage in the event of damage. It is important your buildings are covered from the first day you accept responsibility or ownership for your property.

Buildings insurance is available for both structural aspects of your property, as well as permanent fittings and fixtures. This often includes sub-structures such as garages, storage sheds, greenhouses, fences, and driveways. Premium costs are dependent upon type of property, where it is located, and how big it is.

Cover can be on either a standard basis or an accidental damage basis

Contents insurance

Contents insurance is cover for your household contents, i.e. furniture, carpets, curtains, television, , kitchen equipment, ornaments, personal possessions, clothing, computers, etc. It is the total value of everything that is in your home that you would take with you if you were to move. The contents value does not include items included in building insurance e.g. fitted wardrobes and fitted kitchens.

Contents insurance is a necessity for both homeowners and tenants, to cover the value of possessions or property in the event of damage, destruction, or loss. This includes all non-permanent structures and fixtures in your home, as well as furniture, appliances, electronics, and some valuable. Items of very high value (such as jewelery or some electronics) may need to be insured separately to achieve complete coverage of their value. Although coverage is not required, it is advisable.

Your possessions are covered through contents insurance, as well as belongings of your family that live in the same household. Others may be included, dependent upon the specific insurance policy.

Landlords should make sure that any possessions that are included in home rentals are covered by contents insurance. Tenants should have coverage for all of their non-rented possessions.

With most contents insurance there is the ability to insure your personal possessions away form the home. This optional cover allows you to insure your personal items normally worn or carried outside the home, e.g. watches, jewellery, cameras, anywhere in the world for up to 60 days a year.
Contents cover can be on either a standard basis or an accidental damage basis.

Contents insurance is valid in case of weather-related damage, fire, and criminal activities such as theft and vandalism. Although accidental damage is not usually covered, policies can be extended so that "accidental damage and all risks" are included. This may be a good option for high-risk individuals and families, such as those with children or pets, or those that travel with items of value. The policy should cover the cost of replacing your possessions, not the current value of the items. By spending just a little time to compare quotes, you can save a lot of money and trouble on premiums.

(Source)

TRAVEL INSURANCE COVERAGE

Travel insurance is insurance that is intended to cover medical expenses, financial and other losses incurred while traveling, either within one's own country, or internationally.

Travel insurance can usually be arranged at the time of booking of a trip to cover exactly the duration of that trip or a more extensive, continuous insurance can be purchased from (most often) travel insurance companies, travel agents or directly from travel suppliers such as cruiselines or tour operators. However, travel insurance purchased from travel suppliers tends to be less inclusive than insurance offered by insurance companies.

Travel insurance often offers coverage for a variety of travelers. Student travel, business travel, leisure travel, adventure travel, cruise travel, and international travel are all various options that can be insured.

The most common risks that are covered by travel insurance are:

• Medical expenses
• Emergency evacuation/repatriation
• Overseas funeral expenses
• Accidental death, injury or disablement benefit
• Cancellation
• Curtailment
• Delayed departure
• Loss, theft or damage to personal possessions and money (including travel documents)
• Delayed baggage (and emergency replacement of essential items)
• Legal assistance
• Personal liability and rental car damage excess

Some travel policies will also provide cover for additional costs, although these vary widely between providers.

And in addition, often separate insurance can be purchased for specific costs such as:

• pre-existing medical conditions (e.g. asthma, diabetes)
• high risk sports (e.g. skiing, scuba-diving)
• travel to high risk countries (e.g. due to war or natural disasters or acts of terrorism)

Common Exclusions:

• pre-existing medical conditions
• war or terrorism - but some plans may cover this risk
• pregnancy related expenses
• injury or illness caused by alcohol or drug use

Travel insurance can also provide helpful services, often 24 hours a day, 7 days a week that can include concierge services and emergency travel assistance.

(Wikipedia)

Choose travel insurance plan which offer coverage for vacation and trip cancellation, travel interruptions and delays, emergency medical and health expenses, lost baggage or baggace damage and much more. Choose the travel insurance coverage that meets your travel needs whether you're going on a cruise or winter getaway. The insurance plan includes 24-hour travel emergency service for emergency medical assistance, last-minute or emergency travel and flight changes, lost luggage tracking, pre-trip travel advice and more.

TYPE OF INSURANCE

There are many different types of insurance:

You are unlikely to need every single one of these, so read around, choose carefully and remember to read the small print.

• Travel: Holidays can be dangerous occasions - especially abroad. If someone falls ill it is much more difficult than it would be at home to cope with the situation. Medical treatment is expensive.
  
• Household contents and building insurance: Contents insurance covers the contents of a home such as furniture, carpets, clothes, television, refrigerators, jewellery and so on. In other words, what you would take with you if you moved. Buildings insurance protects against damage to the actual structure of the home and to its fixtures and fittings. Contents and buildings policies can be bought separately or together in one package.
  
• Car insurance: Most people know something about motor insurance. This is because any vehicle driven on public roads must have a certain level of insurance. The Road Traffic Act ensures that drivers must meet liabilities they incur should they injure other people or cause damage in an accident.
  
• Life insurance: A means of providing for your dependents should you die early, but also a way to save cash through endowment policies or similar.
• Private medical insurance: This covers the costs of private medical treatment for curable short-term illness or injury. It means that should you become ill you could be treated immediately privately rather than being put on an NHS waiting list.
• Critical illness insurance: This allows you to insure your income/ health were you to become too ill to work later on in life, and protects any dependents/ loved ones from the financial consequences of such unexpected events.
• Accident, sickness and unemployment cover: According to Moneyextra: "In 1999, 30,000 properties were re-possessed by mortgage lenders... Many lost their homes because they could no longer afford to pay their mortgage payments through an accident, sickness or unemployment." If you are planning on buying a house it may be sensible to think about getting some mortgage payment protection insurance.
• Pet insurance: This basically helps you foot the vet's bills if your pet gets poorly. By paying regularly into an insurance policy it means you have paid for the bill gradually rather than having to find the money for a steep bill when you can least afford it.
  

WHAT IS INSURANCE ?

Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. Insurer is the company that sells the insurance. Insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.

(Wikipedia)

In simple terms, insurance allows someone who suffers a loss or accident to be compensated for the effects of their misfortune. It lets you protect yourself against everyday risks to your health, home and financial situation.

INSURANCE:

A side agreement when someone is all-in for a player in a pot to put up money that guarantees a payoff of a set amount in case the opponent wins the pot.

(Source)