Each year holidays are ruined by illness or robbery or even the sudden need to return home because someone else is ill.
There’s no legal requirement for you to have insurance when you travel abroad but if you find yourself in a situation like that you’ll bless the day you took a policy out.
And with competition within the industry growing fiercer, prices have tumbled. Annual policies for Europe start at 12 while worldwide cover begins from as little as 20.
Australian insurers who have dramatically raised their premiums since the Queensland floods are guilty of `gouging’ customers, Premier Anna Bligh says.
In one case, the North Burnett Council was asked to pay 65 per cent more to insure its property – a rise of almost A$100,000 (US$102,605) compared to last year.
The Premier said some insurance companies were being unfair.
“It is clear that some insurance companies are increasing at a rate that I think is beyond reasonable,” she told reporters in Cairns on Monday.
“Some insurance companies are lifting rates by such a high level it can only be described as gouging.”
Ms Bligh said Queenslanders should seek out insurance companies who had helped customers during the floods and Cyclone Yasi.
“What we learnt last year is that not all insurance companies are the same – some went out of their way to help their clients, others went out of their way to make it harder.
“I just say to people … if your company is lifting your rates to ridiculous levels, shop around. There are insurance
One of the best features of any health insurance policy is the “Cashless service” offered by the insurance company. In a cashless claim arrangement, the insurance company directly pays to the hospital and the policyholder does not have to pay for the treatment or hospitalisation from his/her pocket. But there can be times when this blissful cashless service can become really painful and annoying. There have been many instances where the policyholder or his family members spend a lot of their time and energy in chasing the Insurer, following up with their Third-party administrator (TPA) and the Accounts department of the hospital.
Some five million people in the UK are at risk of flooding and the personal and financial effects of a serious flood can be devastating.
Here we provide a comprehensive guide to dealing with the flood water and getting things back to normal.
If the worst happens and you are at imminent risk of flooding you should take the following action.
Listen out for warnings on radio and TV and check the Environment Agency flood information.
Move pets, vehicles, valuables and other items to safety.
Choosing the right way to buy life insurance can save you thousands of pounds. We explain how at the bottom of this guide, but first a few other issues…
What to buy
A range of insurance policies will pay some kind of benefit if your health suffers or you are unable to work. You can read about the different types here.
Life insurance is the cover that pays a specified sum if you die.