Archives for March 2012

Who should get personal accident insurance?

bike accident
Accidents can happen when we least expect it. In our day to day life we can be exposed and vulnerable to various risks and accidents which can happen at any time, causing bodily injury, disability or even death. While accidents cannot be avoided completely, even if you observe all safety measures and precautions, their impact can be reduced by monetary compensation if you take out personal accident insurance.

Personal accident insurance provides monetary compensation in the case of an accident, which can sometimes lead to death, injury, total or partial disability. This type of policy will cover accidents of all types and in many cases also incidents of terrorism. The various events covered under personal accident insurance are personal damage caused due to accidents in a variety of circumstances, such as on the road, rail and air, injuries due to fall or impact or collision, injuries due to drowning and poisoning and burns.

There are three main features to personal accident insurance which you should be aware of to make sure that you are covered in all eventualities.

Death Due to Accident
If the policy holder dies in an accident, the amount assured under this policy is payable by the chosen insurer. However, it is important to note that if death takes place after 15 days of the accident the cause of death could be contested and therefore the insurance company may not entertain the claim. To avoid this, if you do suffer an accident be sure to make sure medical notes are taken by your doctor, as well as keeping personal notes, evidence and photos.

Permanent or Partial Disability
If the insured party sustains injury in an accident and therefore becomes physically disabled either partially or wholly, the insurer is liable to pay compensation to the insured party, depending on the seriousness and intensity of the disability. However, the claim becomes payable only if the disability of the insured party continues beyond 180 days. If the injured party is able to work and is not impaired after 180 days, they will not be entitled to receive any claims.

Disability Due to Severed Limbs
If an accident should result in the severance or removal of upper or lower limbs of the policy holder’s body, thus causing permanent disability then they are entitled to receive compensation as per the terms and conditions assured in the policy. The compensation for loss of limbs are as follows:

  • For loss of one leg or one hand, the compensation payable is 50% of the assured sum.
  • For loss of both hands and one leg, the entire assured sum as per the chosen policy, is payable in full as compensation.

It is vital to note that there are a variety of incidents which are not covered under policies, and therefore the policy holder will not receive any personal injury compensation, these include:

  • Natural Death.
  • Injury of disability that is due to suicide, intentional suicide or intentional self-injury.
  • Due to participation in extreme sports such as bungee jumping, mountaineering, hot air ballooning etc.
  • Acts that are done with criminal intention or are against the law.
  • Arrests or detention by the law.
  • War, civil disturbance or an attack by a foreign country.
  • Anything related to childbirth and pregnancy.
  • Any injury caused by the ingestion of alcohol or drugs.

When choosing  personal accident insurance, make sure that you read the finer details and understand policy restrictions completely before deciding on what course to take. Many insurers also advise that you take out insurance for your entire family, so that you are covered for a wider variety of accidents.

Creative Commons License photo credit: Oneras

Top tips for buying non standard insurance

Alan Boswell Group

Alan Boswell Group

Being in business for yourself is the dream of many offering the opportunity to innovate, be your own boss, work the hours that you want and build something to be proud of. The downside is all that responsibility on your shoulders with the need to market the business, do the work and deal with any problems all ending up at your door. It’s imperative to have adequate insurance cover in case the worst happens. Thankfully it’s possible to obtain cover for disasters, both small and large, enabling you to have the peace of mind and sleep well at night.

Some types of insurance are essential whatever your business. For example, Employers Liability Insurance is a legal requirement in UK for all businesses that are not single man operations or employ only close family members. This cover will protect you against claims made by employees due to accidents at work. Public liability insurance is not a legal requirement but it’s recommended if you interact with the public at all. This includes any work done outside of your premises and protects you in the event of you causing damage to property or people. It will also indemnify you against claims made by members of the public who have an accident whilst on your premises.

Some businesses will have specific requirements to cover them adequately. For example, farming is a tremendously rewarding vocation but can be a tricky business at the best of times. With costs on the rise and profits hit hard farmers need to have great farm insurance to protect against the unexpected.

A farm is an intricate machine with many  interlocking processes; machinery, livestock, crops, people and most importantly weather. A break in the chain, something as simple as a broken tractor can have reverberations throughout all of the work that needs to be done. It may be something as big as a threshing machine, or as small as a laptop but it’s essential to be able to recover quickly from such situations and get back to work as soon as possible. Both Material Damage Insurance and Mechanical and Electrical Breakdown Insurance may come into play depending on the situation, enabling you to seek replacements or repairs and get on with the task in hand. Crops and livestock can be protected as well. In the UK, Insurance against hail damaged crops is vital, as is insurance for livestock against diseases such as bovine tuberculosis, foot and mouth and brucellosis. Commercial property insurance should also be considered to cover farm buildings.

Additional cover may be required when pursuing activities beyond traditional farming. For example, farms that are open to the public will require extended liability cover or those intending to host hunting, fishing and shooting events will require specialized insurance for this type of activity.

Likewise, pub landlords have a very specific set of needs that are best met with specialised pub insurance. With such diversity in opening hours, styles of properties, locations and business sizes it pays to get advice from a specialized broker.

Top Tips for Getting Cheap Van Insurance

Broken Window Theory, burgled fish van, Hackney, London, UK.jpg

The cost of keeping your van on the road is creeping up all the time and it is difficult to know where to start cutting costs. Like the MOT and road tax, van insurance is required by law and you risk losing your vehicle if you drive without it. Unfortunately, cheap van insurance can be hard to find, especially if you fall into a “high-risk” group such as young drivers. Luckily, there are several things you can do to reduce the amount you have to pay to insure your van or van.

Insurance companies work out how much insurance you pay, by deciding how much of a risk you and your vehicle are to insure. For example, if you park your van on the street outside your house and it has no type of alarm, you will pay more than a driver who parks off road and who has an alarm system. Where possible you should try to park your van on a driveway or, ideally, in a garage. This will reduce the cost of your van insurance premiums. Purchasing a simple alarm system from a van accessories specialist will also mean less money going towards your insurance. This way, the extra money goes towards your van and not towards an insurance premium you may never claim on.

Another way to get cheap van insurance is to ask for it. While you may not think your insurance company will reduce your payments, most companies will consider a reduced premium for valued customers. Insurance is very much a buyers’ market and if your insurance company will not budge on the quote they offer you, another company will be only too happy to take your business. You don’t need to wait till your premium runs out either, even if your policy still has months left to run you can ask the company for a deal. If they agree, you will receive a refund of any money owed to you.

Whether you need affordable cover for your van or cheap car insurance, using a comparison website means you can view a number of suitable policies in one place. It also means you can compare quotes between different companies, so you know you are purchasing the absolute best deal around. Some of the larger comparison services also have special deals that are only available if you purchase the policy with them. This means the cheapest van insurance for you may not necessarily be available straight from an insurance company. There are several comparison services available and you should get quotes from each one before deciding which the best is for you.

Creative Commons License photo credit: gruntzooki is owned by Mediamash (NI) Limited, who are an Introducer Appointed Representative of Seopa Ltd. The quote system is owned and operated by Seopa Ltd, who are authorised and regulated by the FCA, number 313860. You can view our registration at We do not give financial advice on this website. If in doubt get professional advice and always read the policy information before purchasing an insurance contract.