You may have hired the services of many workers, but you have to believe that gardeners, carpenters and builders are on the list of the most diligent workers. However, the problem for these workers is that they are prone to several risks. For instance, they may lose their tools or they may get involved in an accident while working at a site. Let’s know more about the tradesman insurance.
As said earlier, tradesmen’s job involves the risk of accidents. An average office worker may not be prone to as many risks as a tradesman. Actually, tradesmen make use of dangerous tools. That is the reason they are more likely to get injured than other people. The majority of tradesmen is usually self-employed. So, replacing a damaged or lost equipment is very hard for them. They may lose a lot of potential income if they don’t get a replacement for their lost or damaged tool. Fortunately, they have a ray of hope in the form of the tradesman insurance. This type of insurance is provided especially for these people.
If you have no idea what this insurance is, you can go ahead and read through this article. Tradesman insurance offers the following coverage:
Public liability coverage
This type of coverage offers coverage against legal expenses that may incur because of the claims of a property damage or injury to a worker.
Personal accident coverage
Personal accident coverage will provide coverage in case of an injured staff member at the workplace.
Damage to someone else’s property
This type of coverage helps you to pay for the expenses that occur when the workers cause damage to the property of a client.
This type of cover insures the construction works of the tradesman, including materials, especially if they get damaged or stolen. Aside from this, it can reimburse the heavy expenses related to extra costs of labor needed in order to rebuild the things that were completed earlier. For instance, this can offer coverage if a storm causes a damage to a building that is being built by a contractor.
Tools and equipment
The tools and equipment insurance offers coverage to the policyholder in case of the costs that occur in case of a repair or theft of a tool or piece of equipment.
Commercial Vehicle Coverage
This type of coverage protects you against the cost of upkeep of a vehicle of van that you use for business. Aside from this, it can cover for the rental cost of a vehicle. You can also buy other optional features or covers. For instance, with efficacy coverage, you can reimburse the litigation expenses if you are held liable for the installation of a faulty security alarm.
You can also buy tax investigation coverage if your business is being investigated for reasons related to tax. It will provide coverage against the loss of income during the investigation.
After suffering a fire the homeowner will need to do file a claim for property damages so they can clean up and start to rebuild. Fires are devastating and sometimes homeowners will make a costly mistake during and after the settlement of their fire claims. Most will let a fire claim adjustor come survey their property and make the claim but there can be things that are missed during the initial claim. One thing to note is that after the insurance company sends you a check and closes the fire claims the homeowner has three years to add to the existing closed claim. This can be done if it is found that the damages were not assessed correctly. To help make sure that you get the right settlement for your fire claims, here are some tips to help you.
Document the damage to your home and other buildings
Take the time to inspect and document all of the damage yourself. If the home is not a total loss make sure that you take pictures of the damaged rooms. Try to take overviews and some close-up photos. Before you enter the room, hall, or closet take an overview. By doing this it will help you to organize your pictures and which ones belong to which room. For example, with the living room, take an overview, then go from top to bottom of the walls, ceiling, doors, and the floor.
Document damage to your contents
The next step is to go back to each room and closet to inventory your contents. For everything that is damage, including clothes, shoes, furniture, paintings, etc that have been damaged by the fire making sure to show the damage on the picture. Yes, this is going to take a lot of pictures but everything needs to be documented in order to get the right settlement. Make a list of all contents that have been damage. Once you have listed the damaged items and have the pictures take another look around the room to make sure that you have not missed anything. Make an inventory list for each room with the pictures attached.
Review your insurance policy
Yes, insurance policies are hard to understand but before filing fire claims you should take the time to review your police basics, such as how much coverage you have on your home, how much coverage is on your personal belongings, and how much will the policy pay for you to stay in a hotel.
Once you do fire claims the fire claims adjuster will cover to the site of the fire and start their own claim. Do not give them the original photos and inventory claim sheet but a copy. This will help them expedite the claim.
This article is penned by Lora Davis for Up Front Settlement who are experts in i
The whole nature cycle in the present times are going for a toss with earthquakes and floods becoming too common, the water reserves are going down and animals becoming homeless due to a steadfast population. The natures balance is getting altered due to interferences like cloud seeding etc. Life is uncertain and there is a need to get insurance to be able to recuperate from untimely deaths, loss, destruction, damages, etc. So what is insurance?
Insurance is nothing but a cover that protects one against any sorts of risks and insecurities. The chief component of it being of sharing the risk. It can be referred as a contract where a stipulated amount is paid so that the insurer can help the insured people recuperate from the loss and after effects of a damage or risk, in case of any eventuality.
The establishment that helps to get this understanding is called the insurance company. Any individual who wants to get insurance done is known as Insured/Assured. The written contract between the two parties is referred to as the Policy.
After knowing in brief about the insurance, let us have a look at the different types which exists.
Life Insurance- The amount gets paid under this cover only after the death of the assured, or when the policy expires, whichever happens first. However, this is not an indemnity bond as the loss of one’s life cannot be recompensed yet a particular sum of money can be paid.
Fire Insurance- This type of cover protects against all types of damages that result due to fire. It is considered as a contract of indemnity whereby the insurance companies pay off for the loss that takes place. Generally, this cover is only valid for a year’s time after which it needs to be renewed. One needs to keep just two aspects in mind to claim for this and they are:
• There should be a genuine loss
• The fire should be by accident and not done intentionally.
Marine Insurance- This kind is one of the oldest and covers all loss related to the marine exploration. In this type, the insurer pays off for the partial or the full loss to the owner of a ship or cargo. This again is a contract of indemnity where the assured can recover the real amount of coverage subject to the maximum limit that one is insured for.
After studying the various types, let us see their importance which leads to a secure tomorrow.
• Due to insurance, the international trade has started touching peaks as marine insurance gives a cover against all types of risks related to the sea.
• In today’s time, the life insurance policies are available in many forms and they can be used for accomplishing of one’s social obligations, educational loan or marriage loan etc.
• Large funds get accumulated by the help of premium paid by the “insured” and that helps as a significant factor for the capital foundation as well as the economic development of a country.
• Insurance does not only ensures protection but also is a great way of investment as the premium gets paid from time to time and after maturity, the lump sum is given to the insured.
Thus, it is always an astute step to get one insured and spare oneself from the horror of any loss, or damage which could be emotional or financial. Let’s save today for a thriving tomorrow.
Having basic insurance coverage is essential. If you don’t apply for insurance, know that it will be a big mistake. Therefore, you may want to have enough coverage to meet your needs. Also, it’s important that you realize the importance of insurance. Given below are a few common mistakes that you may want to avoid when it comes to buying insurance.
Ignoring the Importance of Basic Insurance
You must have at least basic insurance. For instance, it can protect you in case of car theft and accidents. In addition, basic health insurance can help you save on your medical bills. If you can’t go for a comprehensive policy, make sure you get a catastrophic or deductible plan.
According to the Affordable Care Act, you must have health insurance. Otherwise, you may have to face fines at the time of filing your taxes. The health plan you opt for should meet your minimum requirements. A plan designed for disability protection, for instance, can protect you if you fall seriously sick or get injured.
Opting for an Expensive Plan
Another common mistake is to purchase a plan that is more expensive. It can be hard to estimate how much you should spend on a plan, especially when it comes to liability insurance. Therefore, we suggest that you have a discussion with an agent about your assets. At young age, you won’t have to pay for an expensive plan as you won’t have a lot of assets to protect.
Opting for a Cheap Plan
Under insuring yourself is another common mistake. Ideally, your basic plan should be able to cover your expenses. In other words, in case of an accident, your plan should be able to pay for all the medical expenses.
For a health plan, the same is true. If you are in the United States, one million dollar can be enough. However, if you have a major illness like cancer, your medical expenses will be much higher.
Opting for the Wrong Insurance
Getting the wrong type of insurance policy is another common mistake. It’s not a good idea to opt for policies that won’t be of any use to you. For instance, if you are under the age of 30, you don’t have to get different types of policies.
Keep in mind that you don’t have to go for all types of policies. If you know what you are going to get, you won’t have to get surprised at the time of filing a claim.
Not Considering Different Policies
Make sure you shop around before deciding on a policy. It’s better to do this every now and then. This will help you save money by opting for a different policy. In addition, you may consider policies that offer discounts based on your location or profession. Shopping around won’t take much time but save you a lot of money. Plus, it will help you avoid common mistakes.
If you go to the UK, you will see a lot of minibuses on the streets. While this is a small bus, it can carry up to 17 people. They are used for homes, resorts, schools, airports and different types of public places. As a matter of fact, in the UK, the minibus makes up half of the quality vehicles you can find. Read on to find out more information about mini-bus insurance policies.
The popularity of the minibus is on the rise. One reason is that these vehicles are practical. They offer enough room to accommodate 17 people. They are also versatile as their seats are designed to be reclined or tipped up based on the requirements of the seating. Aside from this, the bus can be used for family, social or commercial purposes.
Minibus and insurance
You know that insurance is a requirement for the owners of the minibus. Since this type of vehicle is flexible, you may find it hard to choose the right type of insurance policy.
Should you get a regular insurance policy for your bus? No, you should not. The reason is that a car can’t carry as many passengers as a minibus. The standard insurance policy can provide coverage for just 9 people. So, a minibus can’t get enough coverage if you go for a standard insurance policy.
When choosing insurance for your minibus, you should take into account how you are going to use the bus. Given below is a description of the types of insurance policies available for minibuses.
So, if you use the minibus for charity, we suggest that you go for this type of policy. In the same way, if you run a non-profit organization, this type of insurance will fit your needs.
This type of coverage should be an ideal choice for you if you use the bus for your staff or clients.
If you use your minibus for recreational purposes, we suggest that you get this policy. Moreover, families or individuals who make use of a minibus for their personal needs can benefit from private minibus insurance.
This type of policy offers coverage for vehicles used by collages or schools.
Public Hire Mini-bus insurance
As the name suggests, this policy is suitable for the vehicles used just like airport taxis.
Minibus insurance offers some great features and some of the features are explained below:
1. Third party: it is the basic level of cover that protects you against the expenses related to the injury or damage caused by a third party.
2. Theft/Fire: it pays for claims in case of the theft of the vehicle or if the vehicle gets damaged due to fire.
Comprehensive: it offers complete protection against the damage due to fire, falling objects, natural disasters and so on.
So, if you own a minibus, we suggest that you apply for this type of insurance. Getting this insurance is easy because so many providers are available.
The progress of the food industry, especially the business sector that provides its services through chip vans is on the rise. So, if you are also an owner, we suggest that you make sure that you get the right type of insurance to cover your fish and chip. This will help you stay on the safe side in case of an accident or other tragedies. Given below are some tips that can help you with your chip van insurance.
First of all, if you are going to get your catering business insured for the first time, we suggest that you get several quotes from different van underwriters. How does the process go? As soon as you have filled in your insurance details, they will be sent to a panel of brokers. After carefully reviewing your details, they will send a quote to you. In other words, you will need to fill in an online form to get the quote delivered to you.
Types of Insurance Available
Now, let us take a look at different types of insurance that you can choose from:
Breakdown cover: while this is not essential, you may want to consider it as the downtime can cost you a good deal of money.
Third Party: Actually, this is the minimum as far as the law goes and it covers damage that may occur to the third parties.
Fire and Theft: just like the third party, this cover includes coverage for the damage that may result from fire or theft.
Comprehensive: it will provide coverage for third party theft, fire and any damage to your vehicles.
Tips to Cut Down on your Monthly or yearly Insurance Premium
Add to the Excess
In case you don’t know, the Excess is the amount of money that you can be held liable for if you get involved in an accident. What you need to do is add to this amount. By doing so, you will take additional responsibility and hold yourself accountable for a bigger sum if an accident happens. The majority of brokers will look at it as an indicator of lower risk. As a result, you will get a lower quote. Therefore, increasing the Excess amount is a great idea.
Limit the Miles:
In this scenario, if you don’t travel long distances on a daily basis, you can let your broker know about it and he may lower the insurance premium that you will pay. This is because you may be less likely to have an accident. So, the insurance provider will have a lower chances of receiving a claim. So, this will be a win-win situation for both you and your insurer.
When your van is not in use, you can add more security for keeping you more secure. However, make sure that the added security is approved by the insurance industry of your area prior to the purchase and installation.
So, these are a few tips that may help you with your chip van insurance. If you follow these tips, you may be able to enjoy lower insurance premiums.
Most employers offer a health insurance plan to their employees. Since health insurance offers a lot of benefits, most employees opt for it to enjoy the medical benefits. Here are a few things that may help you choose the right health plan.
Nowadays, unlike the past, you can’t sign up for a plan that will cover all of your out-of-pocket costs. Even if you go for the H.M.O plans, you will get the coverage only if you meet a certain deductible.
A high-deductible plan can’t be defined specifically, but it’s a plan that comes with a savings account and a deductible of a minimum of $1,300 or $2,600 for an individual and a family respectively. Aside from this, there are different deductibles that cover your hospital stay, prescriptions or emergency visits.
Moreover, the Affordable Care Act defines how much you will have to pay from your own pocket.
Based on your paperwork of previous years, you can get a good idea of how much you will have to spend in a medical emergency. For instance, if you can’t afford to pay for minor medical emergencies, a high-deductible plan may not be a good choice for you. In such a situation, you may have to pay for an MRI, or a blood test.
Aside from this, you should think about a health savings account, which may help you offset your out-of-pocket costs. In these accounts, tax-free funds are accumulated. This money will help you in a rainy day. If you are lucky, you may pitch in up to $1000 in your account.
Find out What is Covered
It’s a good idea to figure out the costs that are covered. You won’t have to pay anything from your pocket to bear these costs. The insurance plan will cover costs, such as colonoscopy costs or a flu shot. If you don’t know whether these costs are covered, you should get in touch with the insurance provider.
Nowadays, companies are offering quality telemedicine services. These services are included in the health plan or they are offered as an additional benefit. As a matter of fact, these consultations may be a great alternative to an expensive visit to a local doctor or hospital. So, you are going to save a great deal of money down the road. You don’t know when you are going to have a medical emergency.
If you are going to consider a high-deductible plan, make sure you become a smart shopper. This is because your own money will be at stake. If you do some comparisons, you can save a lot as some insurance plans may provide more coverage than the other. Therefore, it’s better to shop around before signing up for a plan.
It won’t be possible to get a definite answer about what a medical emergency going to cost you. Yet, you can find a lot of insurance providers that offer tools on their websites. With these tools, you can find a better option as well.
While life insurance pays your beneficiaries a sum of money if you pass away, critical illness insurance pays out when you are diagnosed with one of the major illnesses named in the policy. Death is not a requirement for the benefit to be paid, which is why it is called a “living benefit.”
Some critical illness insurance policies cover three or four conditions, but others cover about 30. The conditions covered vary among carriers and policies. Some of the conditions that critical illness insurance typically cover can include, but are not limited to: stroke, cancer, severe burns, heart attack, major organ failure, Alzheimer’s disease, aortic surgery, loss of limbs, aplastic anemia, bacterial meningitis, benign brain tumour, blindness, coma, coronary artery bypass surgery, paralysis, deafness, heart valve replacement, loss of speech, kidney failure, motor neuron disease, loss of independent existence, major organ transplant, MS, occupational HIV infection, and Parkinson’s disease.
Here are some ways you can save money on a critical illness insurance premium:
- Choose a policy that is the best for your risk factors: In most cases, the more conditions covered, the more expensive the policy. If cancer is a risk factor due to family health history, for example, you may be better served with a policy that covers cancer, heart attack, and stroke than a policy that covers 15 or more illnesses, most of which may be low risk for you.
- Some policies will exclude certain conditions, such as loss of eyesight. Weigh the pros and cons carefully of exclusions, but recognize that the lower the risk you present to an underwriter, the lower your premium.
- Did you know that insurers round your age up or down depending on when you apply for a policy? If your birthday is close to the end of the year, buy your policy in the first six months of the year to take advantage of age rounding.
- Some policies have extra benefits and riders, such as a waiver of premium rider or a child illness rider. Go without riders that do not apply to you so you can save money on the premium.
- Do you have mortgage insurance that includes critical illness insurance? Speak with a broker to see if dropping your mortgage insurance makes sense for you. You may have adequate coverage for the mortgage risk if you also have individual policies and policies through work. If there is enough overlap, you can streamline your polices so you can pay less but still have the coverage you need. Caution! Never cancel an insurance policy before learning if you have the right coverage active first.
- It costs your insurer time and money to process monthly payments. They reward you with lower premiums if you can make an annual lump sum payment.
- You can pay to have some policies backdated, giving you a chance to lock into a more advantageous rate and age bracket. Doing this will cost you more upfront, but it can save you money in the long run, especially if you have a long-term policy.
- Choose between term and permanent insurance. Permanent is more expensive at first, but it is very affordable if you buy it when you are young and in good health. Term insurance renews at a higher rate every year. If you are looking for long-term protection, choose wisely. You don’t want your term policy to end at an age when renewing will be too expensive.
- Your employer’s benefit package may include critical illness insurance. If the amount of coverage provided by your employer makes sense for you, that’s great! You have the coverage you need.
- You can get a simplified or guaranteed issue critical illness policy that allows you to skip the medical exam, but you pay more for that privilege. A fully underwritten policy that includes a medical exam is cheaper. If you are in good health, skip the no medical policy and make time for a doctor’s or nurse’s visit.
- Bundle up! If you are in the market for several different types of policies, such as disability and life insurance in addition to critical illness insurance, your insurer may have a bundle discount. Don’t be shy about asking if this is the case.
- Want a money back guarantee? Some policies come with, or allow you to purchase, a return of premium rider that pays back a full or partial refund of your unused premiums. There is often a charge for this, but the extra money can more than offset a return of premium years down the road.
- Consider getting a life insurance policy that has an advancement of funds for a critical illness. This can be cheaper than purchasing two separate policies, but understand that an advancement affects your life insurance benefit.
- Smokers always pay more–sometimes double the rates of non-smokers. This is just one more good reason to give up the bad habit!
- Speak with a broker. Unlike an agent that works for just one company, or a bank that only sells their brand of policies, brokers have access to all the products on the market, and they will compare them for you. Brokers are like matchmakers. They check out all your options and pair you with the best one for your needs. Some brokers even get discounts that are not available to the public, so they can get you the best rate.
Age is a driving factor in the development of critical illnesses, and nobody can escape the aging process. That’s why critical illness insurance is just as important as life insurance. We hope these tips motivate you to speak with a broker and save money on this type of policy. Get in touch with a broker today and get the protection you need.
Buying one health insurance is a tough task when a lot of companies are selling it with great offers and benefits. There are numerous of plans, offers to attract the customers and mostly befuddle them.Here are a few things you should definitely check and know before falling for a health insurance deal:
1. Claiming procedure:
The claim process of the company should not be much complicated as it will cause a huge delay in settlement of claim. Health insurance is one of the most important types and you cannot risk your or life of your family by making it difficult. The simpler the claiming procedure the easier is claim settlement. Examine their process carefully and then decide.
2. Customer Support:
A 24*7 customer service is mandatory for health insurance. In case of any misunderstanding in the hospital the customer care executive should be present to handle such situations. Research about the company and their way of dealing with customers.
3. Waiting period:
Mostly insurance companies provide a waiting period for any previous ailment. This can range from one to around six years depending on your age and type of disease. The best way to avert this issue is to buy a health insurance plan in youth so that you can easily clear the waiting period.
4. Pre/Post Hospitalisation:
There are numerous of expenses added with Hospitalisation which include medicines, tests and doctor’s follow up. Make sure that your insurance plan covers these expenses too. From Hospitalisation of a patient to their discharge health insurance should cover all of the expenses. There should not be too much of burden on your side.
5. Insurance amount:
The most important decision to make is deciding on a right insurance amount. The right choice of amount shall only cover expenses. Take your age, health condition, salary levels in consideration before making a decision. The amount shouldn’t be too high for you to afford nor too less as you do not need a shortage of amount in emergency.
6. Family insurance:
In choosing a health insurance plan make sure that you insure your family members along with you. Decide the insurance amount by considering their age, existing or previous ailments.
7. Network hospitals:
The most important thing is to check their network hospitals. Mostly hospitals provide cashless options and the bills or receipts of all expenses are settled directly with the insurers. Make sure to ask the insurer about the network hospitals where this cashless system is available.
Health insurance schemes are designed so to protect you and your family in adversities but often we become forgetful of examining it by falling for the words of company. Avoid such hassles and make a list of questions you need to know from them and decide discreetly.
When reviewing health plans and evaluating cost, keep in mind health insurance wasn’t designed to cover every penny related to health care. If you’re an adult homeowner with a family you should consider a life insurance policy. This will reduce your stress about the financial burden your loved ones would endure if you were to die suddenly. Here are things to consider when shopping for life insurance. Is it affordable? Immediate Payout? Underwriting Leniency? Living Benefits? Is it term life or whole life? These questions are critical and can impact your family down the road. Do the research and ask lots of questions when meeting with your agent.
Everything under the sun on an open credit card is nice, but not when you are paying the bill. But you are.
The purpose of insurance is to cover sudden very expensive losses. It’s about making you whole again and not have the financial responsibility of a ton of money to do it. Somehow we all decided over the last 60 years that the traditional plan should pay for everything.
Health insurance is the only insurance product, for the most part, that pays for first dollar coverage like doctor visits and prescription drugs. The healthcare system gamed the system on the bigger bank account paying the bill, not the small guy. The tables have turned…
Employees are more responsible for their healthcare in paying more for premium dollars out of their check and higher costs. Employers should engage their employees in being more proactive in their healthcare. Here are a few ideas:
- Don’t run to the ER or the doctor visit for every little thing. What happened to home remedies or waiting to see the doctor instead of running to the ER? This will save you thousands in a year if you have kids.
- Try saving money on medication by finding alternatives. Sometimes skipping the drug may not have an impact on your health, but keeps you coming back to the doctor. The other thing you can do is shop around. Just because they are convenient doesn’t mean it is the most cost-effective.
- Just because your doctor recommends a test, it doesn’t mean you have to jump to it and have it done. The doctor went through many years of school, but they are also trying to run tests to protect them and get paid. Ask more questions to see if you feel it’s the right thing. Just like you would if your mechanic suggested items. It’s your money.
- If you are scheduling a procedure, take a look around. Many new facilities are popping up to help reduce cost from outpatient testing to outpatient surgical facilities. The hospital isn’t the cheapest. Far from it. This ends up driving the price up for you and the insurance company.
- You do not need to go to a state of the art teaching hospital, for most thing. There are a time and place for the advanced care that some of the predominant teaching hospitals bring to the table. However, for most things people go through its overkill and overcharged.
In the end, it will end up costing you more money, either in out-of-pocket expenses or premium. There is no free lunch.