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Old Caravan Insurance Explained

Insurance for caravans is a legal requirement if it’s to be on public roads, but it also makes sound financial sense. They can be incredibly expensive vehicles, and even if you’ve got an older model you could easily find the cost of replacing it too much to think about. That’s where old caravan insurance comes in, and if you look around you’ll have no problem finding an appropriate policy.

It’s fair to say that, if a caravan is more than three years old, it’s in the “old” category. But your vehicle could have seen many more years than that and still be going strong, and the good thing about its age is that it should be cheaper to insure. An older carava

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Neighbourly mishaps cost £246m a year

Homeowners are being hit for damages totalling £246m every year due to neighbourhood botches, according to Direct Line.

The insurer’s research has found that neighbours cause a wide range of woe, from smashed windows and severed electricity supplies to flooding.

During the last five years, 9% of homeowners have suffered damage at the hands of their neighbours, with each incident costing an average of £541.

Perhaps surprisingly, the most common type of mishap is not a smashed window but a severed utility, whether electricity, gas, phone lines and water.

Property damage, such as garden walls, garden ornaments and smashed windows, was the second most common.

Naturally, the more serious incidents can damage relationships, and 7% of those affected have turned to the courts, but 10% now say they are closer to their neighbour following a mishap.

Direct Line’s Matt Owen has emphasised that most people do get on well with their neighbours, and stated that once the situation is resolved matters need not escalate.

 

Dropping Unnecessary Car Insurance Coverage

It is good to go over your auto insurance policy regularly to determine if you could be saving money on your coverage.  At each renewal, the insurance company will send a new automobile policy that should be read over.  By dropping unnecessary car insurance coverage, policy holders may be able to save hundreds of dollars a year.  There are several insurance policy coverage options that should be looked at to determine where there could be cost savings.

Comprehensive Auto Insurance Coverage

Comprehensive auto insurance coverage covers losses from anything other than collision.  This includes theft, vandalism or damage due to natural disaster.  This coverage can depend on the state mandates and any of the terms that are defined in the auto insurance policy.  If a car is paid off and the coverage it is not required by the state, this may be an unnecessary car insurance coverage.  However, if there is a lien holder, they may still require a comprehensive auto insurance policy.

Collision Coverage

If you are paying for collision coverage and your state does not require it, consider lowering this auto insurance coverage.  For an older car consider dropping this if possible.  Coverage is normally limited to the cash value of the car and an older car may not be worth the cost of coverage.  If there is a loan or lease on the car though, they will require collision coverage.  Raising the deductible on collision coverage can also help to save money on insurance premiums.

Rental Car and Towing Coverage

A car is a convenience.  However, if you can live without one for a brief period of time while your car is being repaired after an accident, it could be beneficial to discontinue rental car coverage.  This coverage tends to be very low though and having a car when needed may outweigh the costs.  Towing and labor is also an option that you may want to cancel.  It is only available with comprehensive and/or collision coverage and some policies limit it to accident situations.

Medical Coverage

Most states require a certain amount of Personal Injury Protection (PIP) coverage that helps pay for medical, hospital and funeral costs.  The coverage provides a maximum coverage amount according to the policy but policy holders can choose to purchase additional PIP.  The people that benefit from this are people who do not have other health insurance or people who frequently have other passengers in the car who may not have health insurance.  If this doesn’t sound like you, lose this additional coverage.

Car insurance coverage is important, but reviewing a policy can eliminate unnecessary expenses.  Reduce premiums and improve policy coverage to improve your budget.  However, before dropping any coverage, make double check to determine if you will need this in the event of an accident.   If it will cost you more money to lose the coverage, then it is not worth the initial savings.  It is also helpful to speak with an auto insurance representative before dropping any coverage to discuss the possible repercussions.

Drive Safe Abroad

Did you know that every year over one million people are killed in road accidents globally? Sobering statistics from the U.S. Department of State reveal hundreds of U.S citizens are injured or killed on the roads, either in a car or as a pedestrian. How do you stop being a statistic when abroad? What safety measures can you take behind the wheel?

Always buckle up – other drivers may not be paying attention to this safety feature but you should always use a seat belt. As well as helping prevent major injury or death, using a seat belt helps you avoid fines in some countries.

Stick to quieter roads while you get used to driving in a different place, particularly if drivers drive on the left side of the road. M

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Finding suitable life insurance

Unlike car insurance, life insurance is optional.  There are of course several practical reasons for this legal position, but viewed from a purely logical perspective you might think that we’ve got our priorities all wrong.  The financial implications of death for anyone with a family or dependants can far exceed the monetary impact of the average shunt in the family car.  However, tightened purse strings in these difficult times are of course totally understandable, and many people will feel that they simply cannot afford regular payments towards life insurance.

If you are being glib about it, life insurance is after all a bet that you will die – not the most cheerful of propositions!  Obviously, we’ll all check out at some point, but when it comes to term life insurance, there is an element of grim wager.  The ‘term’ bit means that the life insurance cover is limited to a specified period, after which the policy is dead and will yield no money.  You may survive the term to earn another day, and in fact you are statistically likely to, but the regular premium payments you have made during the life of the policy will simply be financial history.  So why take a term life policy?

The simple answer is affordability.  It is precisely because you are likely to survive the term, thanks to things like modern medicine, that the life insurance providers like Santander can offer you a policy with low regular premium payments.  This is especially true the younger you are when you take out the policy, for obvious reasons.  If you have a modest income but also a mortgage, products like decreasing term life cover can ensure that your dependants will not lose the family home if they are unfortunate enough to have to deal with your untimely exit during the specified term.

If you don’t like the idea of making regular payments towards a policy that you hope to outlast, there are options short of the relatively expensive provision of whole life insurance.  Whole of life insura Read more…

Saving Money with Your Car

Fuel prices have sky rocketed in recent months and it is having an effect on every driver. Everyone needs to think of ways to improve fuel efficiency and consequently save money. Whatever type of vehicle is driven, the chances are that mileage can be improved upon. At today’s prices, just a couple of MPG (miles per gallon) can really help. There are a few things to bear in mind and each one will see an improvement in mileage. When it comes to car insurance UK companies will be pleased to advised on the most suitable insurance for a particular driver and their vehicle.

Drivers need to reduce their speed generally. It is a simple way to economise. Read more…

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