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Insurance

Why You Have to Claim Back Your PPI

Stories about Payment Protection Insurance (PPI) are everywhere we look now. We are repeatedly told about how it is quick and easy to make a claim with phrases like ‘hassle free’ and ‘no win, no fee’ bandied about regularly. Many people simply ignore the waves of TV, radio and newspaper advertisements about PPI however, thinking it is just the latest scam or believing that, like with most easy money pay-outs, it would not apply to them.

PPI applies to more of us than you might think however and the reason there are so many success stories stems from the fact that it honestly can be as easy as the adverts make it sound to claim back hundreds – and more commonly thousands – in money that rightfully belongs to you.

What Is PPI?

The reason why many people choose to ignore the news about PPI is that they do not understand what it is and so think it will likely be confusing and of no interest or relevance to them. It is however, fairly straight forward.

PPI is a type of insurance that is sometimes added to payments when you are borrowing money – like with a loan, mortgage or credit card. It was introduced as a means to ensure that payments could continue to be upheld should the recipient suddenly be unable to work through illness or unexpected redundancy.

Why so many Complaints?

On paper, PPI sounds like a good thing; so you may ask why so many people have been complaining and claiming their money back.

Well, it recently emerged that many banks had been charging people for PPI without telling them.  Having been mis-sold, people had been paying for months – sometimes even years – for insurance that they either did not want, need or even know about. The issue become far less about the benefits of having PPI and more about the dishonesty of the banks.

Why would it be Relevant to Me?

While for some it was that they had been told the PPI policy was compulsory and for others it was that their policy failed to provide them with adequate cover; the very fact that the majority of people who were forging complaints and claiming a refund were people who had never intentionally bought PPI is what makes it so important to claim.

Banks have wrongfully taken millions from the pockets of unsuspecting consumers and this is why it is relevant to everyone. Almost any one of us could have been mis-sold PPI but we just do not know about it yet. Checking your policy or monthly bills could well reveal that they have been taking an additional payment from you in order to provide you with this unwanted PPI cover.

Why Should I try and Claim?

Last year, more people than ever went to the ombudsmen to complain about PPI. A free service designed to solve financial disagreements; they have been inundated with people hoping to be refunded the huge sums of money that their banks have taken from them without prior permission.

This in itself is why you too should make a claim if you believe you are a victim of mis-sold PPI. Taking money from consumers without their consent is essentially stealing. Sitting back and allowing them to get away with it when you have been wronged sends out the message that they could get away with a similar scheme in the future. If everyone who had money wrongfully taken were to make a claim – be it individually or by seeking help from a professional claims service – we can collectively make a stand against the poor judgement and unfair actions of the banks. Not only will we be reimbursed what is rightfully ours but we show the banks that we will not allow them to take advantage of their customers anymore.

Insurance

The Importance of Landlord Insurance

Take a look at http://www.totallandlordinsurance.co.uk/ to learn more

As far as personal finance goes, one of the most profitable ventures that a willing investor can enter into is to buy a property which can then be subsequently rented out for a regular profit. With the rise of affordable housing and condominium units that are attractive for students, young professionals or people who simply cannot afford to buy their own house at this point in time, the opportunities in this thriving business segment is indeed bright and abundant. 

However, it is fairly common knowledge that one of the more established deterrents to renting out a property is the risk that the landlord absorbs in case the tenants inadvertently damage the property. Ever so often, we hear of scary stories where properties are damaged by tenants who are unwilling to shoulder the expenses necessary to have the property repaired. As a result, landlords shell out their own personal money to have the properties repaired before it can be rented again. 

Thankfully, now it is possible for a property owner to secure landlord insurance to protect himself or herself from the risk of property damage without having to shy away from the renting business altogether. Some financial institutions actually specialize in providing landlord insurance and offer a variety of packages suited to one’s landlord portfolio. Whether you are a first-time landlord or you own a vast array of properties that you rent out for residential and commercial purposes, you are guaranteed to find a landlord insurance that works for you. 

Like most types of insurance, one only needs to come into an agreement with the insurance provider as to the specific coverage of the policy. Afterwards, all that remains is for the landlord to pay the appropriate premium fees for the policy to take effect. During the period of coverage, the insurance firm will shoulder the repair expenses for properties that are insured provided that the damage is in accordance with the insurance agreement. In this way, the landlord is insulated from all the repair expenses while continuing to reap the benefits of having rented a property. 

With landlord insurance now available, property owners no longer have to fear the idea of inadvertent property damage after they rent out their property. Gone are the days when a landlord sits down and agonizes over how to pay for property repair. Now, all that one worries about is getting the right landlord insurance and everything else falls into its proper place. 

Consider this a golden opportunity to grow your personal finance portfolio by renting out your properties and then securing the right insurance to cover the risks. With the right landlord insurance, you can sleep soundly and still earn comfortably without having to worry about your property. 

Insurance

Bike Insurance is a Must for All the Bike Owners

Amongst various methods of protecting bicycle, one is bike insurance. The insurance cover for the bike is an important step towards the security of one`s beloved vehicle. One of the main reasons of road bike insurance is that one cannot find an alternate means of transportation which is so economical in case ones bicycle gets damaged.  A  bike is one of the ultimate means of transportation as it does not demands any sort of extra expenses to be incurred over it. Resultantly more and more people are embracing bicycles for moving from one place to another.

Road bike insurance is the only way to provide one with the certainty of its protection. Some of the State laws have also turned it mandatory to get the private vehicles insured. The law specifies the cancellation of license if one fails to get the bike insured.  Bike insurances are of various types. They differ from country to country.  Bike insurance is also subject to various factors. Before opting for any insurance cover, one must comprehend that how the insurance premium is calculated and how to attain an eminent bicycle insurance cover which is within budget.

The policies of the companies mainly vary as per the protection they need to bestow upon the vehicle. One of the most common types of restriction is that the vehicle will be given a smaller amount of claim in case it happens to get damaged at some other place. Thus if one wants to get ones bike fully secured then one must opt for an appropriate insurance cover before visiting any place. The amount to be paid for such insurance cover solely depends on time type of services opted

 The premium also depends upon the accessories of the bike and its age. For instance, a ten year old bike will be insured by considering the depreciated value of the bike in ten years. Thus it is clear, that the premium which needs to be paid by the insurer basically depends upon the amount of risk involved.  A higher amount of premium is required to be paid for the bike which is exposed to higher risk. Before getting ones bike insured one should take the photo of the bike with all the accessories present over it. A two-wheeler can cost one with thousand dollars since the high-tech models available in the market are very high in prices. One should opt for the best policy to protect the vehicle even if it is little expensive.

The companies avail various reasonably priced insurance covers for the bike.  A Quality insurance cover can be obtained without compromising with the quality. For example one can choose for the medical cover along with the damage compensation. Such policy shall serve one in a dual manner. Firstly any damage done to the bike shall be compensated by the company and secondly, all the medical expenses shall be borne by the company if the customer meets with an accident while riding the insured bike. 

Insurance

An Introduction to General Liability Insurance

In business, it’s a good idea to have a good general policy in place to protect your livelihood from undue risks during the conduct of your business. Even if you are careful with all your tasks, responsibilities and obligations whether from the perspective of service delivery or when selling a product, you can never be too sure that you’ve covered all the bases to prevent your company from incurring any liability. Protecting your business from these unforeseen liabilities requires a general liability insurance (GLI) policy so you are protected from claims like bodily injury, personal injury, or property damage related to the conduct of your business operations. 

One of the main advantages of general liability insurance is that it serves as a “catch-all” policy for most forms of business. This means that it covers and protects your business and ensures the security of your company’s assets in the unlikely event of a major emergency or catastrophe. Admittedly, it has its fair share of drawbacks like the fact that the premiums are not cheap but given all that it offers, any risk-averse business would certainly find comfort when under protection by general liability insurance. 

Prior to selecting the policy that’s best for your business, you should think about the nature or type of your business as it relates to perceived risks. A common example used to explain this is to compare and contrast a contracting business and a web design business. It’s obvious that if you are a building contractor, your insurance coverage is more comprehensive than if you were a web design company. Businesses that carry higher risks are best suited for general liability insurance while lower risk businesses are more suited to Business Owner’s Policy (BOP) that combines general liability and property insurance at affordable rates. Suffice it to say, risk assessment is at the core of making sound decisions towards which policy works best for the type of business that you have. 

If you want to know more about general liability insurance, you should start by talking to insurance agents from the popular insurance firms in your area. In the US, Progressive and Geico are big companies that offer general liability insurance for small businesses. You need to compare quotes, assess coverage versus premium fees, and other details. If you are truly at a loss, you can enlist the services of a local attorney to do the review for you in order to find the plan that suits your needs best. 

Remember; your business will never be truly immune from liability regardless of how careful you are. Rely on general liability insurance to protect your company so you can continue doing your business without fear of being sued by partners and customers alike.

Insurance

The Need for Getting Pet Insurance

Most of us take our property insurance obligations very seriously because the last thing we need in life is to be able to lose something big and not be able to replace it. Every year, we spend billions of dollars worldwide insuring anything from our cars, houses, and our medical expenses. Heck, even Heidi Klum insured her legs just to be sure. 

This raises an interesting question that has to be answered in the context of personal savings. Simply put, have we considered something like pet insurance to ensure that we all have our expenses covered? Think about it; we treat our pets like family and go out of our way to spend for their needs, not the least of which is medical expenditures. When ours pets get sick, it does not take an hour before we find ourselves running to the veterinarian and spending hundreds of dollars for doctor fees and medication among other things. All that spending can easily total to thousands of dollars over the course of a year and in these tough economic times, that’s a little bit more spending than we would prefer coming out from our wallets. 

Pet insurance provides a practical solution to these problems. Working much like our own medical policies, pet insurance are bought to cover vet treatment fees, or even medication depending on the exact policy bought. It is a handy and workable solution that allows pet owners to rest easy knowing that their beloved are well-taken cared of and that their wellness is not compromised simply because we are working on a squeezed budget. 

Most of the pet insurance policies today actually sell for very affordable rates, as low as ₤4.50 gross for a month for a pet cat. Dog pet insurance can be bought for ₤5.60 for basic medical care. There are also other variations that would allow one to insure pets that may go missing or coverage for bereavement counseling services in the untimely event that a beloved pet passes away. 

The important consideration is to remember that pets are equally important to us so much so that saving money is a reason we would never use to compromise our pet’s health and wellness. However, if it can be done in a practical way such as through legitimate and proven pet insurance policies, then there is no reason to shy away from the most practical and ideal solution out there. 

The next time you find yourself in the vet having to pay a good amount for your cat’s latest illness, think of how pet insurance can help ease your spending without having to lower your standards for health care towards your pets. With pet insurance, you need not worry, and yet still be able to save. In a world were good breaks are hard to come by, that’s as good an offer as any you will ever find.