avantia provides non-standard home insurance

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by Danielle Bailey August 26, 2010 in Insurance News

avantia Insurance has launched a new homeprotect service after the viability of such a move was proved by its pilot project which provided instant online cover to non-standard buyers of home insurance.

Brokers and other providers have been invited by avantia to join the platform, with the aim of providing a one-stop shop and saving both time and costs.

Since last year homeprotect has been trialled mostly online to non-standard customers, who comprise around 15% of the UK population.

The term is a broad one, and covers everyone from those at risk of flood or subsidence to former offenders and those with an extensive claims history.

The pilot saw 97% of people provided with instant online quotes, with the remaining 3% dealt with manually by individual members of staff.

Chief Executive David Walker explained that a cost-effective underwriting service could be provided by intelligent use of IT, dealing effectively with a so-called difficult consumer group.

 

Protect Your Travel Investment With Trip Cancellation Insurance

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by Tiffany Parker August 23, 2010 in Insurance News

Unfortunately, life does not always cooperate with our travel plans. Even less fortunately, airlines and hotels are not usually too understanding of that fact. So when you need to cancel a reservation, more often than not you are going to lose your entire investment. If that concerns you (and it should) then you may wish to consider trip cancellation insurance.

With trip cancellation insurance, you will have the flexibility to adjust with the curveballs life throws you. If a client cancels a meeting that you’ve already bought plane tickets for, you’ll be covered. If a family member falls ill right before your vacation, you’ll be able to re-schedule your flight and re-book your hotel without putting a major dent in your wallet.

This type of coverage can also be used when missed connections and delays occur. It seems like fewer and fewer flights take off at their scheduled times these days. Read more…

Dog bites worry US home insurers

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by Danielle Bailey August 19, 2010 in Insurance News

The US Insurance Information Institute has reported that dog bites now account for more than one-third of all homeowners’ insurance liability claims, costing $412 million in 2009, the total having risen 8.7% on a year earlier.

Figures from the Center for Disease Control and Prevention show that more than 4.7 million people in the US are being bitten by dogs annually, resulting in an estimated 800,000 injuries requiring medical attention.

With over 50% of the bites occurring on the dog owner’s property, the issue is a major source of concern for insurers, with the average cost of a claim having escalated to $24,840.

According to the Institute, many states have now passed laws with stiff penalties for owners of dogs that cause serious injuries or deaths.

Read more…

Life insurance policies with long term care coverage

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by admin August 18, 2010 in Insurance News

Life insurance policies with long term care coverage is certainly the best way to get yourself added protection in your life and ensure that you get enough money when you retire and even if you lose your life, your family gets sufficient to keep going. Though the prices of the long term care coverage are higher compared to all the other forms of insurances but you still feel relieved with the long term care coverage with your life insurance.

The premium of life insurance policies with long term care coverage cost you more than the standard life insurance policies but these are justified for the high price tag. The benefits that you get out of these insurance policies are endless. You get to have nursing care in case you come across any accident down the lane. The increasing premiums are certainly a concern to all of them and there has to be a way out. Read more…