Insurance World

We all have family concerns. We’re concerned about finances – paying the bills, paying back loans, and sending our children to college. We’re concerned about the safety of our family members – Junior’s playing football this year, Jane’s asthma is acting up. We’re concerned about affording luxuries – Suzie’s expensive prom dress, this summer’s family vacation. Yes, if you have a family, it’s inevitable you have your fair share of family concerns.

However, as parents, you’re not always going to be around to make sure these family concerns are handled properly. At some point, your children will grow up and form families and family concerns of their own. This is the ideal situation, anyway. There is always the less ideal situation, which is you, your spouse, or both of you suffers a serious accident that either prevents you from working or causes death.

In the event of such a tragedy, it would be nice to have a financial cushion to fall back on, wouldn’t it? This is where a life insurance policy comes into play. If you or your spouse has a life insurance policy, you can cash in on, or borrow from, it to make up for lost wages and help you get by financially. And, if the accident is fatal, the policy will take care of your survivors once you’re gone.

When purchasing a life insurance policy, it’s important to take these situations into consideration. If you find yourself out of work or experiencing financial hardship due to some other situation, how much money will you need to compensate for the lack of income? If you should be involved in a fatal accident, how much money will your family need to cover the costs of living expenses, bills, and education until they can get on their feet again?

Life insurance policies do more than pay for the expenses you leave behind; they give you peace of mind while you’re still around.

Who knows, you are going out for a long drive, and your car breaks down midway. Experts say that there is more than 10% chance of breaking down each year if your car is more than 3 years old. It is worse in the winter. You can avoid breakdowns by taking precautionary measures like re-servicing your vehicle each month. However, getting your breakdown insurance is a good option to protect you financially if your car vehicle breaks down when it is least expected to.

Types of Breakdown Cover

Roadside Rescue: If your vehicle breaks down outside a specific distance radius from your home, breakdown insurance would pay for the servicing amount except the charge for new parts. The company will provide you with other helps. However, the incident is at your home or within specified radius of your home, and then it won’t be covered.

Home Rescue: It covers the same as the roadside rescue; it extends the coverage to your house. It includes getting your vehicle checked at the local garage.

Recovery Plus: It covers both home and roadside breakdowns. It provides a hire car to either return home or continue your journey. And also it covers the cost of alternative transport to enable your journey or return home to be completed. If the breakdown happens a set of miles away (specified in the policy), accommodation in a local hotel while awaiting completion of repairs will also be provided.

Continental Cover

In UK, European Rescue Breakdown covers roadside breakdown in continental driving. It covers the charge of repairing or bringing your car back to UK in case your car can’t be repaired. However, it doesn’t cover the charge of new parts. So, it is always wise to have this insurance, if you are driving across Europe as you can face fees for roadside assistance charge for every kilometer your car is being towed.

Partners and Family

Some policies also cover spouse or partner; however check it with the insurance company. Some companies look whether your spouse or partner is living with you at the same address. Family cover includes you, a partner and usually two children under 21 living at the same address as you. Check whether your policy covers all the persons traveling in the car.

You need to wait nearly 25 minutes to an hour for a roadside assistance. Some policies fix the number of calls to five or six each year. You may get more if you have a joint cover or family cover. If you exceed the limit you must pay for the assistance. Policies do not cover the cost of new parts. Some policies do not cover trailers and caravans. Animals are usually not covered.