Insurance

Type of Insurance

Insurance Features

Building Insurance

Provides cover to property against risk factors such as fire and flood. Building insurance can be for a specific sum assured or rebuild cost. When taking out a mortgage most lenders will insist you take out building insurance.

Business Insurance

Business insurance can include professional and public liability insurance, employment liability insurance, business premises insurance, equipment insurance. Most business insurance providers can tailor your cover in line with your business needs.

Business Interruption Insurance

Provides protection in the event of something preventing business being carried out e.g. damage to business premises.

Contents Insurance

Provides financial protection in the event of damage or destruction to contents and possession due to events such as theft, fire or flood. In calculating the cost of insurance for high value items specialist high value contents insurance may be required.

Credit Insurance

Business Credit Insurance provides financial protection typically for a business against the risk of bad debts caused by insolvency or disputes with debtors which results in non payment of invoices. Consumer Credit Insurance provides financial protection to finance companies or lenders who offer credit to consumers to buy expensive items e.g. furniture

Critical Illness Insurance

Provides financial peace of mind that in the event of diagnosis of a specified critical illness condition a lump sum will be paid out to the policyholder.

Directors Liability Insurance

Provides financial protection to officers and directors of companies from personal lawsuits. Director liability insurance can normally be tailored to suit the business in question.

Event Insurance

Provides event organizers from public liability claims as a result of negligence e.g. firework event insurance provides cover in the event of a liability claim against organizers as a result of injury.

Expatriate Insurance

This type of cover is designed to provide financial protection to people living and working abroad. Typically this type of cover is for a defined term of 6 to 12 months and might include cover for medical expenses, personal liability insurance and personal possessions.

Flood Insurance

Flood insurance provides financial protection to properties. In the UK this type of cover has become increasingly important and the cost of cover has risen in flood designated areas as extreme weather conditions have become more commonplace.

Home Insurance

Home insurance can include both building and contents insurance and provides financial protection in the event of damage to your home e.g. fire or contents e.g. burglary. In the UK the home insurance market is highly competitive and home insurance premiums can vary significantly from one home insurance provider to the next. 

Income Protection Insurance

Income protection insurance comes under two different forms. Short term income protection or accident, sickness and unemployment insurance (ASU insurance) provides cover typically up to 2 years and provides breathing space in the event you cannot or unable to go to work. Long term income protection isnurance provides cover up to set age e.g. age 60 and provides a replacement income in the event you are not able to work due to illness or disability.

Key Person Insurance

Key person insurance provides financial cover to businesses in the event that a member of staff dies unexpectedly or is unable to work to due to serious illness or disability. The loss os such an individual can have significant financial consequences on a business. Cover would also normally cover the key persons income and benefits which the business would still be liable to cover.

Landlord Insurance

Provides financial protection to landlords covering anything from flood to tenant damage. Landlord insurance policies will usually include public and property owner liability insurance. Landlords Contents insurance is also an option where properties are furnished.

Legal Expenses Insurance

Normally sold as an add on to house or car insurance and provides legal expense cover in the event of a dispute. There are two types of cover; Most legal expenses insurance is to provide protection for things that might happen and covers costs of solicitor fees and leagl costs if the other side wins. After the event legal expenses insurance provides protection in the event that you lose your court case.

Liability Insurance

Provides financial protection in the event of being sued for negligence. Public liability insurance provides cover in the event that a member of the public is awarded damages because of an injury or damage to their property.

Marine Insurance

Insurance that provides financial protection to boat owners. Cover can range from dinghy, and small craft insurance right through to commercial shipping insurance.

Medical Insurance

Sometimes called Health insurance this cover provides private medical treatment for specified conditions with policies providing cover at different levels depending on the nature of the cover.

Mortgage Insurance

Mortgage insurance can take two forms. Mortgage life insurance provides financial protection in the event of death of the mortgage holder (s) ensuring that any mortgage liability on a property is met. Mortgage payment protection insurance provides protection to mortgage repayments in the event that the mortgage holder in unable to work due to sickness, injury or unemployment. Cover will last normally for no more than 12 months.

Payment Protection Insurance

Provides protection in the event of sickness accident or unemployment or death to the policyholder and is normally taken out in conjunction with a credit agreement when obtaining a loan or credit card. PPI as it is often called normally covers debt repayments for a period of 12 months after which time the onus falls back on the policyholder to cover the repayments. In recent times this type of cover has been criticised with banks being ordered to repay missold PPI back to customers.

Pet Insurance

Provides financial protection including vet bills, liability if your pet causes an accident resulting in third party damage or injury. As well as standard pet insurance policies for household pets equine insurance is available for horses.

Professional Indemnity Insurance

This type of cover also known as PI Insurance or Indemnity Insurance provides financial protection in the event that a claim is brought by a client as a result of a problem arising out of work done for them. This type of insurance will typically cover the cost of putting the problem right or cover any legal costs in defending the claim.

Terminal Illness Insurance

This type of cover is often combined with life insurance policies and provides financial protection in the event of diagnosis of a terminal illness where you are not expected to live beyond a set period e.g. 12 months.

Travel Insurance

Travel insurance provides financial protection and travel insurance cover can range from basic cover to comprehensive. Travel insurance will provide cover ranging from flight delay and cancellation cover to cover for personal belongings and personal health. People with pre exisiting medical conditions can obtain cover taking into account their health situation.

Vehicle Insurance

In the UK this is compulsory insurance if you drive a vehicle on the roads. The Car insurance market in the UK is highly sophisticated and high competitive with specialist car insurance available e.g. young driver car insurance and convicted driver car insurance. the same also applies to commercial vehicle insurance and other strands of vehicle insurance such as motorbike insurance and caravan insurance.