Rabu, 11 Februari 2009

Insurance - How Much Is Too Much?

It seems that insurance can be bought for just about every conceivable device or potential eventuality. Other famous celebrity insurance policies include Marlene Dietrich's $1 million insurance of her voice, Dolly Parton's $600,000 breast insurance and Ken Dodd's $4 million cover for his teeth! You can expect to face heavy fines, and even imprisonment if you are caught driving without car insurance. Furthermore, car insurance is required when it comes to taxing your vehicle.
While home insurance isn't a legal requirement, many mortgage lenders will insist that you have buildings insurance before they will consider any home loan. Home insurance is available as two separate products - buildings insurance and contents insurance and each can be bought separately, although most insurers now offer discounts when both are bought together. As the name implies, buildings insurance protects the structural elements of your home, while contents insurance protects your possessions.
If you travel regularly, then perhaps travel insurance may be a consideration. Furthermore, travel insurance can help alleviate the loss of your luggage, flight delays or should you lose your currency or credit cards. There are many travel insurance packages available, from family cover on a single trip to annual policies covering unlimited journeys, while specialist policies are also available for things not covered within normal agreements, such as ski equipment.
A life insurance policy can provide for those eventualities by paying out a lump sum, which can help stave off any financial hardship. Life insurance is often linked to a mortgage as this is normally the main expense that a family will have to deal with, and although singletons and couples without children might not need life insurance, it should be considered by families with children.
If you have pets, then pet insurance might be an idea. Given the fact that veterinary treatment can cost more than £1000 to mend a dog's broken leg, pet insurance can help alleviate the financial burden associated with treating sick or injured family pets.
In light of the huge waiting lists for treatment, there is now a market for private medical insurance which can be used to circumvent the NHS queues and obtain treatment quicker; but private medical insurance can be costly, and not every ailment is covered.
Furthermore, the vast majority of items are likely to be covered by a good home insurance policy anyway.

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