Monthly Archives: December 2011

Standard terms in a pub insurance policy

When looking at your pub insurance policy, you may be put off by the pages and pages of small print. Below is a short and succinct list of the most important points of any basic pub insurance policy. Of course there are some points which should be borne in mind before getting your insurance in order.

Here is the list of the standard terms for a pub insurance policy.

• None of those involved in the business (you, your directors and your partners) have had an insurance policy declined, terminated, had your premium increased nor suffered and other special conditions from any other insurer.

• None of those involved have ever been convicted of or charged (but not yet tried) with a breach of any health and safety legislation or any other criminal offence other than parking or speeding offences or offences which are spent under the Rehabilitation of Offenders Act 1974.

• No-one is awaiting an outstanding County Court Judgement (or the Scottish equivalent)

• No-one is subject to bankruptcy or insolvency orders, whether they are outstanding or discharged for less than 5 years

• The buildings are not Grade 1 Listed

• The roof of the building is built of incombustible materials

• The walls of the buildings are built solely of brick, stone, or concrete

• The buildings are heated only by low pressure hot water apparatus, or fixed gas or electrical appliances

• The building does not require any repair or refurbishment to make them secure or water tight and will be so maintained

• The buildings are in your sole occupation other than offices and private dwellings

• The level of security at your Premises meets your insurer’s minimum security requirements

• You trade from a single premises

• You have sole control over all doors and windows that accesses the premises used by your business

• There are no external Automated Teller Machines at the premises

If you are serving food in the pub, the insurance and indeed trade classification will be different to a standard pub’s insurance.

Pub insurance should always be purchased from an experienced provider such as Specialist Risks

Fleet insurance policies

Truck insurance is also known as Heavy Goods Vehicle (HGV) or Large Goods Vehicle (LGV) insurance. This type of insurance covers vehicles that carry weights above four tons. If the company has a large number of trucks, then it is prudent for it to take a fleet insurance policy. This type of policy is cheaper than taking an insurance policy for each vehicle. It is worth noting that a fleet insurance policy premium is dependent on the weight of the truck; heavier trucks have higher premiums than lighter ones.

In addition to that, this insurance policy is dependent on the coverage of the insurance policy, goods protection, and public liability among others. A comprehensive insuarance policy covers a lot of aspects of goods protection. However, it is prudent to choose an insurance policy that addresses individual business needs. Many insurance providers offer insurance policies with many additional features which are optional. Some of the three main additional features offered by insurance companies in the UK include legal expenses, glass and breakdown cover.

The legal expense cover meets legal costs while the glass cover provides coverage for windscreen damages. Thirdly, the breakdown cover meets expenses for breakdown services such as towing. The type of additional features in an insurance policy is dependent on the insurance provider, however, many insurance buyers seek ways through which they can reduce the amount of premium paid. It is worth noting that you can reduce the amounts of premiums paid for a fleet insurance policy in a number of ways:

For starters, you should ensure that your vehicles are driven safely. If you drive safely for one year, you will start begin to earn claim free bonuses which are reflected as no claim discounts in future years.

Secondly, conducting extensive searches on various insurance providers and their rates is very important. Through this, one is bound to get insurance providers with attractive rates.

Lastly, focus not only on the cost of the insurance policy but also on the terms and conditions. For example, if you have a reliable fleet with good drivers, you can increase the excess with a resulting offset of a reduction in premium paid.

Quotes for a Fleet Insurance policy are available at Blueangeltech

Making a landlord insurance comparison

Making a landlord insurance comparison is likely to involve similar choices to those you make when comparing other forms of insurance, namely:

  • do the policies you are comparing offer the cover you need at a competitive rate;
  • do they include every aspect of landlords protection you might need, yet also exclude elements you are unlikely to need (and therefore have no reason to pay for);
  • your landlord insurance comparison might also take into account those elements of any given policy that are included as standard features;
  • if there is cover you need to buy as an additional option, of course, this might increase the overall cost of your insurance;
  • an example might be compensation offered by an insurer for loss of rental income following an insured event which leaves your property unable to be let for a while. Some policies – but by no means all – provide a degree of compensation (up to prescribed limits) for such loss of rental income;
  • perhaps more important – and a potentially more serious and costly risk – relates to the building insurance on your property and the peril of subsidence. Some landlord insurance policies (just as some home buildings and contents insurance policies for private residences) specifically exclude this risk and you may need to buy it as an add-on. Some landlord policies, however, include it as a standard item of cover;
  • if you own buy to let property – or, indeed, if you are an owner-occupier – there may be occasions when the premises are left empty and unoccupied. Your tenants may have vacated, for example, and you face a delay of more than 30 days (45 days in some cases) in agreeing a new tenancy. In that case you may also be looking for an unoccupied insurance quote to ensure that adequate cover remains on your property during the time that it is empty;
  • as a landlord, you may face the risk of tenants causing malicious damage to your property or the contents which you own. Some buy to let insurance policies include protection against such risks as a standard feature, whilst others may offer it as an additional option (at additional cost);
  • if price is a consideration in making your landlord insurance comparison, you might wish to choose a policy which offers a wide range of options with respect to any voluntary excess you may care to bear. Typically, the higher the excess you take on, then in some cases, the lower the premiums you have to pay.

The Two Types of Boat Insurance in the UK

In the UK it’s compulsory to be covered by boat insurance, as well as being able to display evidence of the fact that you are insured; most of the time this will also be the minimum requirement in order to obtain an Inland Waterways License. But the good thing is that you don’t have to worry about having full and comprehensive insurance because there is a liability only option too. However, going to your yacht insurers and taking out the minimum insurance is not recommended as you can be left with a hefty price to pay should you be involved in a major accident.

Liability Only

This is the minimal amount of cover you need in order to be considered qualified to take to the waters in your boat in the UK. Liability only insurance protects everybody else against any accidents which may incur, and be proven to be your fault. This means that you will be covered against damage to other vessels, property, and other people, which includes minor injuries all the way to loss of life.

Liability insurance will not protect yourself, your own vessel, or your own property against damage by a third party though. And this is why it’s highly recommended that you don’t just settle for the minimum amount of insurance cover.

Comprehensive Boat Insurance

Most yacht insurers will always suggest taking out full and comprehensive insurance in order to protect yourself and your property against any damage sustained as a result of the actions of a third party.

• The industry standard of cover for damaging another individual’s property, self, or vessel, is set at £2 million. Comprehensive insurance will usually include this as standard.

• Fires can and do happen with boats, even while at sea, so protection against damage by fire is also included in comprehensive insurance.

• Boating thefts are becoming more and more common these days, and this is another reason why taking out comprehensive insurance is necessary because boats are expensive to replace.

• Accidental damage is also covered, as long as it’s not due to your own negligence.

www.boat-quote.co.uk provides quotes from reputable yacht insurers.

Would you benefit from a classic bike insurance quote?

Here are a few points that you may find useful, relating to a classic bike insurance quote:

  • both bikers and insurers, typically struggle to achieve any common agreement between them as to what constitutes a classic bike – it is therefore advisable to look closely at an individual policy’s definition;
  • having said that, you may find that insurers typically regard bikes above a certain minimum age to meet their definition of classic;
  • the reason this is important and why there is such a thing as a classic bike insurance quote, is because insurers may presume that you may typically wish to ride a classic bike less frequently than you might in the case of a more everyday machine – that may imply lower annual mileages and that in turn may reduce their risk assessment (thereby also possibly your premium);
  • of course, saying you have a classic bike may mean different things to different people not only in terms of the age qualification but also potentially in terms of value – some classic bikes may be not only older but also rare and of extremely high value and if that is the case, your insurer may require you to take additional security measures;
  • motorcycle insurance quotes for classic bikes may not cover your use of them at displays, fairs or exhibitions, particularly where that involves payment through fees or attendance allowances etc – it may be worth checking that point specifically with your motorcycle insurance provider before setting off;
  • some biker policies may place some restrictions upon where you may park your bike when not in use – that may include overnight but possibly in some cases also during the day and you may find that on-street unsupervised parking is not covered;
  • remember that if you customise or significantly enhance your bike after you obtain your classic bike insurance quote and subsequent policy, this will need to be notified to your insurer so that they may consider any insurance implications arising – if you wish to keep your insurance premiums down, heavy customisation of your motorcycle may be something worth thinking twice about.

An outline of a typical unoccupied property insurance quote

Here is a quick summary of some of the major points relating to an unoccupied property insurance quote:

  • why you may need it – the risk profile of your property may typically be seen to be significantly different between the states of being occupied and unoccupied with the latter exposing it to additional risks of cumulative unnoticed damage, burglary and vandalism etc;
  • when you may need it – there may be some differences between insurers but typically traditional home buildings and insurance or landlords insurance policies will cover an unoccupied property for a maximum of 30 consecutive days, after which standard landlords insurance may become invalid and continuity of cover may be maintained by starting with an unoccupied property insurance quote;
  • what it entails – a policy may typically offer you cover for your buildings and contents in a situation where your property is unoccupied but some policies may have different conditions that apply once the period passes a further threshold (perhaps 3 6, 9 or 12 months);
  • your obligations – it is always a good idea to carefully read the terms and conditions of any insurance document and in the case of unoccupied property cover, you may wish to note that you may be obliged to periodically visit the property to perform inspections, rectify immediately any internal defects that may lead to damage and to keep external garden areas in appropriate lived-in appearance (you may also find an obligation to ensure that you keep a journal of the days you visited the property and any work undertaken);
  • its necessity – keep in mind that if you make a claim under a standard landlords insurance policy and the insurer subsequently discovers that the property was unoccupied at the time the incident took place, you may find your claim will be refused and you may also become involved in fraudulent claim proceedings;
  • its ease – you may find it is very straightforward to pick up an unoccupied property insurance quote and that it is time well spent.

The key concepts of insurance for landlords

There are a few key ideas arising in the area of insurance for landlords that may be worth getting to grips with if you are or are about to become, a landlord:

  • if you obtain income from letting out property or part of your own property, then you are a landlord;
  • properties that are being used for the purposes of generating income typically cannot be covered by owner-occupier buildings and contents insurance;
  • it may be possible to use only buildings insurance in situations where your property is being let on an unfurnished basis, however, it might be prudent to check to make sure that everything you believe to be a fitting (thereby theoretically covered by the buildings insurance) is also so seen by the insurer;
  • to decide what is the best landlord insurance for you, may require a little effort in terms of comparing a number of quotations – remembering that something that you have heard is the best, may be the best for another landlord but might not prove to be so for you;
  • some landlords insurance may offer considerably more than simply buildings and contents cover, for example, some policies may include things such as rental income protection, malicious damage by tenants and elements of legal fees protection (qualifying conditions may, as you would expect, apply in all cases);
  • landlord insurance (and the same may also be true for owner-occupier home buildings and contents insurance cover) may not cover a property that remains unoccupied for more than a specified number of days and if you believe your property may exceed the specified limit, you may wish to make inquiries regarding unoccupied property insurance;
  • in cases where you have taken out a buy to let mortgage, you may wish to note that your mortgage agreement may require you to maintain appropriate insurance in place, at all times, covering the full rebuilding costs of the property concerned – in effect, that may necessitate you having formal insurance for landlords unless you wish to risk being in breach of your mortgage contract.