Insure your home

With a re-mortgage even if you already have insurance the solicitor will ask for buildings insurance that is covering the up to date rebuild cost and that the name of the new lender is on the insurance schedule document. You may have to produce the paper work before hand as evidence or sign that you have this in place before mortgage completion. On a purchase, property insurance must be in place on exchange of contracts, so even before you actually move in, as your are then at that point legally bound to the property.

The rebuild cost of your home is the cost to totally rebuild your home from new. An example of this would be if your house burnt down then the cost would have to cover clearance of the plot and a complete new house to be built. People may believe it is the current selling value of the house which is incorrect as only the rebuild costs are covered which would often be far less than the value of sale as this would include the land in the valuation. Some insurers or policies may cover your required temporary accommodation costs and legal costs.

Accidental cover would include the building's permanent fixtures and fittings for example the bathroom suite, toilet and decoration. It includes the items that would generally stay with a house on sale of the property.

Some lenders will charge you for not taking out their insurance, if the property has had subsidence or flooding then you may only be able to use your mortgage lender for building's insurance as this is seen as high risk to insurance companies.

The property generally may only be used for residential purposes and have to be occupied by you, it will not cover a rented property. Home insurance will be more expensive if you claim and specialist insurance may be required for unusual construction types like a thatched cottage. Contents insurance explained

This covers all contents of the home and personal possessions but beware there are restrictions. Expensive items over a certain amount may increase the premiums or even be excluded. There are restrictions and extra costs for items that are taken from the home or are more vulnerable for example possessions in your garden shed.

Again you may consider accidental cover for example breaking a television screen by accident. Loss adjusters may wish to visit the property with higher claims and request several quotes for repair. Old age and general wear and tear will not be covered.

Please note contents are normally covered up to a certain value within a standard policy and you should always ensure that you a have enough cover in place to cover all your possessions, this may mean an increased premium would be payable above the standard policy. It would be also prudent to check the policy documents for a full explanation to the levels of cover within the policy.

http://www.mortgagehome.co.uk/ http://www.mortgagehome.co.uk/ 02380 781222 patrick@mortgagehome.co.uk Article Source: http://EzineArticles.com/?expert=Patrick_Lee

Insurance Premiums

Return of Premium Term Life Insurance

Many people who shop for life insurance prefer the rates of term life as opposed to whole life. However some view the money as a waste if they are young and expect to outlive the coverage. Return of premium life insurance or ROP life insurance allows them an alternative, a return of all their premiums if they outlive the coverage.

Return of Premium Term Life Insurance is a concept where if you outlive your term life policy the insurance carrier returns all of your premiums paid in. Traditional term life is the most cost effective way to purchase life insurance. Cash Value insurance, on the other hand, means paying higher premiums as the contract pays at death. Return of Premium or ROP somewhat splits the two in the middle.

ROP typically costs 25-50% more than a traditional term life insurance policy. The key is to have your agent evaluate the rate of return on the extra premium cost for the ROP policy. For example, a healthy 35 year old male can purchase one million dollars of coverage on a level premium 30 year guarantee for about $830 per year. The ROP premium for the same is $1440. So you are paying an extra $610 per year for Return of all your premiums paid in if you outlive the term. Well, what is your rate of return re paying $610 per year for a return of $1440 x 30 years or $43200. It is 5.08% net.

In any case, this is not a bad solution if it can fit into your budget. Return of all premiums paid in are not taxable as it is a return of your principal. Consider consulting an agent that has the product savvy and software to present the facts to help you make a prudent decision. Get knowledgable quotes and comparisons from the site below.

www.danielagency.com

Alan Daniel has over 20 years experience selling life insurance and saving consumers money.

Article Source: http://EzineArticles.com/?expert=Alan_Daniel

Why It Is Becoming Hard To Decrease Flood Insurance Premiums In The UK?

The last few years have seen the amount of rainfall in the UK increase and in the past few months especially there have been horrific scenes of homes devastated and in some cases entire towns cut off for weeks at a time. It is with all of this in mind we take a look at why it is becoming hard to decrease flood insurance premiums in the UK.

Over the past 5 decades the UK has seen a massive boom in the need for housing as the population of the country has grown from around 36 million people to a massive 58 million people . This has put a massive strain on the need for affordable housing and many new estates with the expansion of towns have been built on flood planes!

A flood plane would have been the land that in times of heavy rain and swelling rivers would have flooded and offered some relief to the rivers during the flooding and the waters would have drained away. Unfortunately due to the fact that there are now properties and roads built on this land the water still floods but doesn't drain away as easy.

This leaves behind it a great deal of devastation as the waters don't only cause damage as they flood the properties but the mud and the disease that the waters can leave behind can make the properties uninhabitable for months to come. This is some of the reason that getting a decrease flood insurance premium is less likely than before.

There is also the gamble of flood insurance, if you get flood insurance included in your policy then you are likely to get an increase on the cost, however you will in the next few years see an increase in the price of home and content insurance as the insurance companies continue to regain the money that it will be costing them (an estimated 3 Billion Pounds) to put right the issues that the current floods have caused.

Can you expect to see a decrease flood insurance premium over the next few years, probably not, as the climate continues to change and the unexpected weather conditions get worse and more unpredictable then the cost will more than likely rise but is it worth not getting the insurance? Personally I think you would be mad not to protect your home and belongings.

Find more valuable information from Home Flood Insurance and make sure that you are not caught by the next major weather event.

Article Source: http://EzineArticles.com/?expert=Elizabeth_Katz

Travel Insurance - Is It Necessary?

So you want to leave the homeland for a while, see the sights, take the pictures, or perhaps, do some business. You've packed the swimming trunks, the extra layers, the hiking boots, the sun screen, but the question remains: is your medical insurance traveling with you? What happens if you get to Brazil like you always wanted to, and then, in a freak spilled mojito accident, you break your ankle? What if the escargot from that charming Parisian restaurant reacts badly with your American digestive system, and you are suddenly in the throes of the worst food poisoning you've experienced in your life? It is no small matter; according to the US Center for Disease Control and Prevention, one half of US travelers heading to another country will experience some sort of health problem while abroad.

Ever since the Michael Moore film, "Sicko," came out, we all know that many other countries (well, specifically France, Canada, and Cuba) provide affordable, sometimes free, healthcare to their citizens, but how does it work for us, Americans, abroad? Well, the truth is, unless you make special preparations, the outlook is not good. According to World Wide Medical.Com website, "most US insurance companies, HMOs, PPOs or Medicare [plans] do not provide adequate medical insurance." There may be exceptions, and you should look into the fine print of your plan, but every major US health insurance providers suggests getting some form of traveler's insurance. Unfortunately, there is no foreign country that provides free health care for travelers.

Travel insurance plans provide three types of coverage: for medical care when abroad, the cost of emergency medical evacuation, and reimbursement for sudden trip cancellations and lost luggage.

Should you require medical attention while abroad, most insurance companies provide support in the form of emergency hotlines. They will advise you on the best hospitals in the area, as well as the ins and outs of the local systems. It is strongly advised that, if possible, you consult your provider before seeking medical attention in a foreign land. Also, insurance providers warn that most third world countries' hospital systems require payment upfront for services rendered. This fee would be reimbursed by the plan.

The most pressing concern is the case of an emergency medical evacuation from a foreign country back to the US. Evacuations are necessary when a very serious medical condition arises, and the traveler/patient must be transported back to the care of his/her primary care physician or a home-based expert. This can cost upwards of $10,000 as it is a coordinated effort between several hospitals and at least one airline. Most travel insurance plans provide the option for specific coverage for this contingency.

Another aspect to consider when travelling abroad, is the cost of sudden cancellations, or changes in travel plans as a result of medical or other emergencies. In an era when airline companies are logging record numbers of lost luggage, this aspect of travelers insurance provides reimbursement for the purchase of clothes and other necessities. In this sense, you could come out a winner: imagine an 'emergency' shopping trip at the fabulous designer stores of Milan.

So, whether you are planning a road trip to Canada, or a fourteen day hike in Machu Pichu, pack some warm socks, swim trunks, and your new friend, Mr. Traveler's Insurance.

Pucher Insurance provides Canadian medical insurance for those travelling abroad or for visitors to Canada. They specialize in providing travelers with solutions for their health and travel medical insurance needs.

http://www.pucherinsurance.com/

Article Source: http://EzineArticles.com/?expert=Jennifer_E._Blackie