Insurance is important
February 25, 2010 by Janet7 · 35 Comments
Cutting down on your insurance seams ideal when trying to cut costs, however many insurance policies are used to cover you in times of need.
A customer survey, undertaken for The Telegaraph, shows that many of us will reduce our insurance cover to save money. 27 per cent of the consumers surveyed, planned to reduce their medical health insurance and 17% were considering canceling pet insurance.
The chairman of AIS, says that it is worrying when consumers cut back on the very products that protect them.
Tony Solomon, agrees with this opinion, saying you must think twice before cancelling, because loss of cover may have a damaging affect on their family and themselves in the years to come. term life insurance and critical illness are both too important to sacrifice. If the worst happened and you were to die, or fall seriously ill, then cancelling your insurance could leave your family with nowhere to live, he says.
If you cannot afford your premiums you must talk to you insurer.
The BIBA, says that people do not appreciate what is involved in replacing possessions, if they are stolen or damaged. He advises everyone to take out contents insurance, but to look at the different levels of cover, as they may not need all your possessions covered. For example, contents insurance costs about 149 pounds a year on average, you can reduce this by 25% by canceling the extra options.
Pet insurance may appear to be unnecessary, but without cover you may struggle to pay an expensive vets bill in an emergency. So which policies are you safe to cancel? Referring to medical insurance, Solomon says that many people are fortunate enough to receive health insurance as part of their employment package. However, if this is not the case, it is of the utmost importance that you protect the future of your family financially. Therefore, it would be advisable to choose CIIC, which pays out a lump sum, rather than mortgage life insurance or medical insurance.
GB i phone Insurance Fraud All the Scams People will Attempt
February 22, 2010 by Janet7 · 26 Comments
Large volumes of Apple’s iphone addicts are resorting to iPhone insurance fraud in order to get their own older i phone product upgraded to the very hottest model, even if it means jeopardizing a criminal record to accomplish this, by performing fake claims on their insurance claim forms.
Dedicated apple iphone insurance policy provider in the Uk, known as Supercover Insurance plc, said claims for iPhone’s typically rised by more than sixty % in and during the launch period of the brand new 3GS models, equivalent patterns were noted close to a year ago, when Apple realised the next new iPhone 3G model.
A recently available iphone insurance fraud report estimates that close to Five out of Ten claims made in the course of this period are most in all probability counterfeit, with quite a few people deliberately destroying their own contract apple iphone in order to have it upgraded to the brand-new style.
Sandy James, from iphoneinsurance.org.uk, believes the current trend by the UK’s network service providers, to deliver longer period deals such as 18 and 24 month periods to their clients is partly compounding the actual situation. “A coupleof years ago a customer may possibly change their own mobile phone at least every 12 months, now, clients have to retain them virtually twofold as long ahead of improving, this is not always acceptable for the technologies adoring iPhone user, with new variants returning out every 8 to Twelve months, perhaps the networks ought to offer more 12 month deals again”.
Grant Burrows, overseer of comparisure ltd, said: “Whilst many clients take out insurance cover because they value their iPhone, we started to discover increases in fraudulent claims as new apple iphone models were released, the volumes of claims close to the launch of the iPhone 3GS was just staggering”. We have often observed quick periods close to new model and upgrade launches, that claims go through the roof, but the fraudulence at the the latest release of the iPhone 3GS was basically incredible. “The problem seems to be that many iPhone owners can only go for so long realizing that they’re a technology behind the most recent must-have spec before they resort to intense steps.
Current reports signify that iphone insurance cover was the fastest expanding kind of insurance in the electronic digital gadgets sector, with iPhone owners close to 60% more likely to take out iphone insurance cover than other UK cellular phone users.
In an effort to kerb insurance dupery, Supercover Insurance PLC no longer offer you iPhone loss as portion of its protection policy, this is due to the extremely high variety of claims for loss that was received from current clients at the same time period as the iphone 3GS model introduced in the UK in summer season 2009.
Supercover insurance, which will probably always ask its customers to give in their damaged phones as evidence of harm, said in several cases it was very easy to spot that claims were not really genuine, for instance, iPhone’s reported as dropped out of pocket were being received as a bag of completely smashed up phone components, that could only have ended up in this state after being repeatedly hit with a sludge hammer or similar!
In one case, someone maintained they had dropped their own iphone down the toilet, but laboratory tests came to the conclusion that the iPhone had in fact, been left to soak in battery acid for around Twenty-four hrs, prior to getting flushed with drinking water.
We can only consider that some individuals will go to almost any kind of length to make certain they have an up to date iPhone, irrespective of the implications. If you were seeking for a new iPhone deal, it may be a great idea to put pressure on your network to give you a 12 month contract, so you do not have to chance committing insurance fraud to always keep up to date with Apples most desirable product.
A Surge in False iPhone Insurance Theft Claims
October 8, 2009 by Janet7 · 27 Comments
Claiming your new iPhone has been stolen when you have not really lost it could land you in hot water. Unfortunately, iPhone insurance policy’s do not provide full protection in the event that an iPhone is lost, so when a consumer finds themselves in the situation where they have missed placed their iPhone, many take the decision to claim that their iPhone has been stolen, simply so they can make a claim on their iPhone insurance policy.
An error of judgement like making a theft claim rather than a loss claim can haunt the consumer and bring problems in future years, who may think that no one would ever know about their manipulation of the truth. Unfortunately this may not be the case any more, as iPhone insurance providers are now actively trying to seek out customers who they believe may be making a false claim by stating that their iPhone has been stolen.
Bogus insurance claims are becoming increasingly easy for the modern and forward thinking insurance company to detect. By interviewing claimants verbally over the phone during the claims process, similar patterns of deception have become easily detectable. Fraudulent claims, such as declaring your iPhone stolen, when it was really lost, have reportedly cost the industry over a billion in revenue over the last few years.
Unfortunately, many people seem to be unaware that making a false claim on something as small as the insurance policy for an iPhone is classed as insurance fraud, which if convicted, could land you with a criminal conviction. Now that must be a real wake up call for the average man in the street, a criminal record can have all sorts of negative affects on your future, from job applications to being refused insurance in other areas, such as laptop insurance, automotive and even home insurance products.
People may think they could talk their way out of this problem, but unfortunately, this is no longer the case. iPhone insurance providers require a Police incident number before they will start to process your iPhone insurance claim. In order to get a Police incident number you will have to report your iPhone as stolen to the Police and make a statement to that effect, the Police are also actively getting involved with insurance fraud of this nature. So not only could you end up with a criminal conviction for insurance fraud, you could also add wasting police time or even attempting to pervert the course of justice, all because your iPhone cover did not cover you for loss!
There is some simple action you can take to avoid getting involved in this situation and firstly that would be to make sure that when you purchase iPhone Insurance Cover, you select a insurance policy that will cover you in the event of you loosing your iPhone. Secondly, if you find out your iPhone insurance cover did not offer cover for loss, then take the loss on the chin, rather than risk a criminal record for such a small amount of money
What To Do When You Need To Insure A Really Old Car
September 24, 2009 by Janet7 · 29 Comments
This can be a tricky thing to tackle, hence the reason for this article! A problem many people run into is that a lot of car insurance companies do not like to insure older vehicles, or any car older than ten years. Due to affordability issues, some people cannot buy a newer model of their favorite car as it comes out, but they would still need the same insurance cover as everyone else!
The reason for the car insurance companies’ hesitancy is the fact that older vehicles are less reliable. As they have so many years on the clock, they are more likely to break down or need repairing to parts more regularly. Doing a lot of careful research will help you immensely in finding a solution to your problem. If you are lucky, and do your homework, you will hopefully find a few companies that offer special insurance packages for older vehicles. There are these sorts of car insurance companies out there; you just need to look properly. Once you have found a few, try and get at least three comparative quotes.
There are some key things that you can do to lower the premiums on your beloved old hunk of junk. Firstly, you need to lower the theft risk. This means installing an anti-hijack and theft device, a tracking system and keeping your car in a locked garage overnight. Another very important thing to do is to ensure that you take your car for its scheduled services on time every month. This shows that your car is being checked out regularly and is in good running order. If you have a low accident history behind you, you are even safer, although this is not something you can control.
The Role Of The Insurance Intermediary in South Africa
April 9, 2009 by Janet7 · 33 Comments
Car insurance remains, for many, a ‘grudge purchase’, and difficult economic times have resulted in this sentiment becoming increasingly entrenched amongst South African consumers. Attitudes towards short term insurance intermediaries have, furthermore, not always been positive, with many questioning the value these advisors add.
Prevailing economic conditions have brought the affordability of insurance cover into question for many South Africans. The reduction in disposable income currently being experienced by many households has resulted in consumers deeming their insurance premiums unaffordable and either cancelling their policies or defaulting on payments.
Financial advisors and insurance intermediaries are fully aware of the need to gather all relevant information in terms of the client’s personal and financial circumstances. Working within the financial parameters applicable to each client is something that professional intermediaries are trained to do. Advising clients on affordability is therefore an important aspect of the service offering they provide.
Insurance products purchased directly from insurers, although perceived as both convenient and cost-effective due to the absence of a ‘middle man’, do not always offer comprehensive information in terms of product options and policy structures. A consumer’s ability to make informed insurance purchase decisions is therefore hampered to some extent when buying ‘direct’. Critical information, such as hidden costs in terms of excesses, insured amounts and exclusions (excess charges on a claim, for example, may cost more than an entire year’s insurance premiums) is often not shared.
Another important, and often money-saving, benefit associated with obtaining professional help is that of the support provided in the event of a claim. Intermediaries act as an invaluable ‘go-between’ during the claims process.
It is, however, important that consumers utilise the services of professional financial and insurance intermediaries. The Financial Services Board (FSB) has introduced a number of pre-requisites aimed at ensuring the soundness of the financial services industry in the public interest. These include being suitably qualified, having exemplary records in terms of credit-worthiness and ethical conduct, as well as sufficient operational capacity to provide clients with a professional service. It is therefore important that associated services are derived from FSB registered suppliers.
An affiliation with professional bodies such as the Financial Intermediaries Association (FIA) is also advisable as these institutions are committed to maintaining professionalism within the financial and intermediary sectors.
How To Handle Marine Boat Insurance
January 21, 2009 by Janet7 · 26 Comments
It can often be difficult to decide on the ideal marine boat insurance policy in view of the vast amount of options. And its important to look at the conditions, restrictions or exclusion as this can make a great difference on what’s being offered.
With marine insurance its a choice of going with the comprehensive or all risks package – this covers the boat for accidental damage, fire, theft, vandalism, and collision whether the craft is in or out of the water. Or for a boat that lacks value, its possible to restrict the insurance cover to include liability only – that’s to protect against bodily injury or damage to a third party.
If intent on purchasing the latest model of motor-driven yacht, deck boat or jet boat it might be necessary to look towards the possibilities or arranging marine finance. If long-term finance is expected, say 10 to 15 years, its good to look towards a boat loan that offers a favorable rate and monthly repayment fee. On the other hand, if purchasing a first runabout, it might be more appropriate to secure a loan that offers more flexibility, such as trade ins or early repayments.
In order to gain an idea of the potential monthly costs, its useful to use a tool known as a boat loan calculator. These tools are freely available on all the major loan or finance sites – its just a case of entering the loan amount, interest rate, and repayment period. Once that’s done an indication of the monthly cost will be returned. This is a simple and quick way to determine if a loan fits the budget and circumstances.
Taking the time to locate the ideal financial package can reap huge rewards when it comes to purchasing a watercraft.