One of the major gripes which the insurance companies have with the one man business, or smaller business, is the fact that so many are under insured. While major issues such as buildings insurance and personal liability insurance are covered as a matter of course by many, issues such as transport seem to be forgotten.
Travel insurance is one of those “grey” areas which people will often do anything to get out of, or cut the cost to a minimum. Are we being tricked by the travel sector, or is it really important?
In the aftermath of the recent flood damage to many parts of the UK, it is only now that we are starting to see the full extent of problems for the future. As the insurance industry continues to distance itself from future flood damage liabilities, by either raising premiums to unaffordable levels, or refusing premiums for “at risk†areas, house builders are now coming under the microscope.
The last few days have seen some of the worst weather on record in the UK with some places seeing a months rain fall in only a matter of hours. Many homes and businesses have been wrecked and current estimates put the cost in the region of £1 billion.
The insurers are now ready for a deluge of claims, but what next for the inhabitants of these areas at danger of future floods?
For many years we have seen consumers place great trust in the so called “Best Buy†tables in many of the financial magazines. While they do offer a summary of the best offers available at the time, many in the industry have great reservations. Do all companies have the same access to these lists? Maybe not….
Insiders in the industry claim that :-
As we are all aware there has been a massive increase in the number of speed cameras on UK roads over the last couple of years. This increased coverage, and motorist lax attitude to a £60 fine and 3 penalty points , has seen a massive rise in the amount of money raised from this revenue stream. Is there really much else to worry about after you have paid the fine?
