Thursday, February 25, 2010

Any business wishes to minimise its risks and landlords are no exception to this. For landlords, there is always the possibility that their building will suffer damage – perhaps even rendering it uninhabitable for a period. To avoid this being a major financial blow, good building insurance for landlord is often seen as being critically important.

Building insurance for landlord can be a complicated subject and specialist advice from an expert provider of landlord insurance may be required. That’s because there are a number of factors that the landlord needs to consider. These include whether the building is used for commercial or residential letting (or both)? Does it stand empty for periods of time? Is it in use or under renovations/restoration?

It is then necessary to consider what the risks are. Property can be damaged in natural or man-made accidents. Sadly, tenants and other third parties can also maliciously damage a rented property and today it is also necessary to think about the risks of terrorism.

All of these factors can affect the type of policy required and the cost. At the same time as thinking about building insurance for landlord, it may also be advisable to consider what exactly is ‘the building’. There can sometimes be grey areas between what is the building, a fixture/fitting and the landlord’s personal property/goods. It may therefore be sensible to consider a policy that covers both.

Landlord Insurance

Over the last 10 years we have seen a huge increase in the demand for our landlords insurance products. In the mid to late nineties people became increasing disenchanted with pensions and looked at buy to let property as an alternative. Since 1998 we have gone from having only one landlord insurance policy to have in what we believe to be the largest panel of landlords insurance companies in the UK. The insurers that we deal with our household names such as AXA, Royal Sun Alliance & Zurich.

Many landlords surveys have shown that the majority of landlords have had tenants who have left without paying rent and more importantly may have vandalised the property. A specialist landlords insurance policy will certainly cover malicious damage by tenant and you are also to obtain legal or rent guarantee insurance to recover unpaid rent or policy excesses. Landlord buildings insurance is essential for your business.

These same surveys have also pointed out that as many as 30% of landlords have admitted to using their home insurance rather than a specialist buy to let policy. Our thoughts on this is that it that it can be very detrimental to you to not disclose that the property is let. Non disclosure is regarded as very serious by insurers and can result in cancelled policies, unpaid claims and also problems obtaining further insurance.

Wednesday, February 24, 2010

Finding affordable health insurance is possible, there are many companies that will help you to find health insurance that will meet your requirements and stay within your budget. The fact is that many people simply do not know where to look for health insurance. Connecting with a company that is capable of hunting down health insurance providers can take the hassle out of buying health insurance. For individuals who do not want to use a company to locate affordable health insurance there is the Internet. Thousands of people in the United States simply go without health insurance because they think they cannot find affordable health insurance. This would explain why there are many individuals in the United States who choose to go without health insurance. Those who do not have health insurance will be less likely to visit a doctor. This means that a lot of times illness and other ailments are not diagnosed until they have developed. There are numerous different things that will determine what your monthly health insurance will be. Your health insurance rates will change depending upon the kind of policy you have. For example, do you only need health insurance for yourself, or your entire family? The answer will have an impact on any quotes you receive. Are you young, or are you in your senior years? Most health insurance companies adjust your premium based upon your age. Are you self-employed, or are you receiving health insurance through your work? This will also affect the cost of your health insurance. You never know when an accident might happen and you need a trip to hospital for stitches or a broken bone. These bills will add up quickly but if you have health insurance, you can get the help you need without the worry of receiving a huge bill. If you can’t afford to pay off your medical bills, your credit rating could even suffer. If you have health insurance, you can prevent these problems from ever happening and your credit will be protected for your financial future and your health. Another way you can make sure that your insurance rates are lowered is to increase the amount of your health insurance deductible. High deductibles equal lower monthly premiums. Anyone that has existing health problems which require extensive medical treatment may find it necessary to have a higher monthly premium. Simply by researching health insurance options online and spending just a couple of hours searching may well save you money every month. Get a variety of quotes from insurance companies which meet your health and budget needs and you will find affordable health insurance. You may also find that purchasing health insurance online can save you money.

Monday, February 8, 2010

To talk about the insurance companies, insurance in modern form had occurred after the Great Fire in London in 1666 which destroyed myriad houses. Nicholas Barbon, following the disaster, had established England's first fire insurance company (The Fire Office) in1680. In the United States, the first insurance company which provided fire insurance was formed in in South Carolina, in 1732.The practice of perpetual insurance against fire was popularized by Benjamin Franklin. In 1752, he founded the Philadelphia Contributionship for the Insurance of Houses . In India, the Oriental Life Insurance Company was started in 1818 by Europeans, much before independence.the first indigenous insurance company in India was started in the year 1870 in the form of Bombay Mutual Life Assurance Society.

Let's face it. Launching and running a business takes capital, motivation and yes, even physical stamina to handle the stress and demands of a new or growing venture. And it's risky. In fact, one out of every five businesses fails within the first five years of opening.
Handling inventory, scheduling time, purchasing supplies, handling payroll -- there are a myriad of procedures every home or small business entrepreneur needs to know, but one of the most critical and often neglected is buying proper insurance coverage.

Taking a Business Inventory
What would happen if a fire or other disaster destroyed your property, making it impossible for you to get back to business right away? Would you remember what property had been destroyed? One way is by taking a complete inventory of all your personal business property, determining its value, and deciding what's worth insuring. Having an up-to-date business inventory will help you get your insurance claim settled faster, verify losses for your business' income tax return and help you purchase the correct amount of insurance.
Start by making a list of personal business property, describing each item and noting where you bought it and its make and model. Clip to your list any sales receipts, purchase contracts, and appraisals you have.

What Is the Right Coverage for You?
Then there's the question of what types of coverages you'll need. Aside from personal business property, there is liability insurance, business income, insurance for the building, boiler and machinery, human failure, employee protection and management protection, among others. The type of coverage you need depends on a number of factors including what kind of business you operate.
How to Keep Costs Down
Start your search for a policy with trade associations or business groups. In many cases, these organizations are able to provide reduced insurance rates based on the volume of business they can offer the insurance company. They've also negotiated coverage specific to your type of business, which can save you significant time in determining what you should cover. Also make sure that you are working with an agent that understands your type of business.

Flood Insurance

Flood insurance provides compensation for physical property damages due to flooding. To be a little precise it provides insurance for damage caused due to overflowing water bodies. in most countries there is the concept of flood hazard zones and in most developed countries there is a mandatory requirement to get Flood Insurance for property in the flood hazard zones. In USA the home owner insurance policies typically exclude flood coverage and require separate purchase of this policy. This is both good and bad as it reduces the cost for folks who are in zones which has a very low probability for flooding. One of the interesting myth floating around is rain coupled with high winds that seep into property or through open windows is considered for flood insurance program. It is not and irrespective of where you live it is just common sense to protect your property from rain water.
Flood insurance is required on all properties located in Special Flood Hazard Zones. If you do not live in a Special Flood Hazard Area, you are not required to purchase flood insurance when you buy your home. Flood insurance compensates against loss by flood damage. Although flood insurance is inexpensive, most people neglect to purchase it. The insurance covers damage to a building; including the foundation, pilings or other support systems for elevated buildings. It is a necessity for those who live in flood prone areas, especially those who live in high hazard flood areas. The only guaranteed flood insurance coverage available for your home is Federal Flood Insurance purchased through your insurance agent or company. Flood insurance is not available to residents of communities that do not participate in the National Flood Insurance Program. The coverage is available separately from your homeowner’s policy through a program developed by private industry and the federal government. The federal government determines whether an area is prone to flooding and considered to be in a flood plain. Flood certifications will indicate whether the property lies within an area so designated.

Thursday, July 30, 2009

The most obvious coverage offered by a homeowner's policy is damage to the building

and its contents. If you were to have an accidental fire, for instance, your homeowner's

policy would cover the cost of rebuilding your home and replacing its contents. Fires,

tornadoes, wind damage, and lightning damage are common types of disasters that are

covered by most policies.

Homeowner's insurance also covers damage to people on your property. For example, if

you were having a garage sale at your home and someone were to break his leg at your

sale, your homeowner's insurance policy would cover the medical treatment to that

individual if you were legally liable for the injury. If you have pets at home, any injuries they

cause by biting or attacking someone would be covered under homeowner's insurance.

There are some types of disasters that most homeowner's insurance policies do not

cover. Flood damage, earthquake damage, and damage due to improper maintenance of

the property are almost never covered under a homeowner's policy. However, if you live in

a flood plane or place where earthquakes are common, you can, and should, purchase and

additional coverage option to protect you from these disasters.

Additionally, if you have a particularly valuable item in your home that you want to make

sure is covered adequately, you may need to buy additional coverage for this item. For

instance, if you have a painting that has been in your family for several generations, you

will likely want to purchase such a policy. While the painting would be covered in your

regular policy, the additional policy will ensure that you are paid what the painting is truly

worth, as it can be difficult to determine value of these types of items after a disaster has