6 little-known types of insurance that might benefit you

Posted on July 19, 2017 by Guy Atkinson

Take a closer look at insurance policies, and you’ll find that there are a plethora of policies covering a wide range of circumstances. Read on to learn more about six lesser known insurance policies that could assist you:   

Clubs, associations and hobbies insurance

Drive a steam engine? Have a much-loved vintage tractor? It might be that you have an unusual hobby or that you run a club or association relating to that pastime, if so, there are insurance policies out there to help you. There are even policies designed for vintage vehicles like that classic tractor of yours.

Musical instrument cover

If your children are learning an instrument or you play one yourself, you’ll know that investing in the right instrument is a costly affair. So search for a policy that will cover your investment, just in case you lose your Stradivarius at a station. You can never be too careful.

Helmet and leathers cover 

Are you a keen motorcyclist? Have you invested heavily in your helmet and leathers to make sure you’re properly protected? Then you want to ensure that your helmet, leather, gloves and boots are covered if you have an accident. Some motorcycle insurance policies include helmet and leather cover, but not all, so check your policy and contact Call Wiser to find the right insurance cover for your needs. Their motorbike policies also come with personal accident cover up worth up to £10,000, so speak to them today.

Income protection insurance

More and more often now jobs don’t come with salaried sick pay, with statutory sick pay fast becoming the norm; and that’s likely to be far less income than you’re used to. So, consider taking out an income protection plan to safeguard your financial future if you’re sick or suffer an injury that means you cannot work.

Income protection insurance is designed to give you peace of mind, providing you with an income even if you can’t work – so you don’t need to worry. Typically policy holders receive between 50% and 70% of their gross salary each month, tax-free, which could be used to pay your household bills and maintain the lifestyle to which you’re accustomed. So in the event of sickness or injury, you won’t need to worry about your household bills, your mortgage, loan repayments, living expenses, medical bills or having enough money to support your family.

Home emergency cover

Look out for household policies that come with home emergency cover that will insure you for such things as family legal cover and ID theft assistance. Such policies will take the weight off your shoulders and provide reassurance in the event of some potentially stressful eventualities. The family legal cover could provide protection not simply with regard to issues relating to your home but in a wide range of other instances too including consumer disputes; personal injury; if you need a criminal prosecution defence; and in other circumstances too. This cover could also help you if your home is damaged, including the provision of overnight accommodation. It’s a wide ranging policy with a great many benefits, so look into it today.

Car excess protection

Had a car accident recently? Found paying your excess difficult? Then consider taking out excess protection, in case you’re in a road traffic accident and are required to pay your excess. Typically, such policies will reimburse you in a timely fashion, ensuring your finances are not adversely affected by having to pay an excess. The last thing you need when you’ve had a car accident is the extra stress of worrying about your finances too, so take an excess protection policy today.

Your insurance policies

Need an insurance policy you don’t see detailed above? Then speak to an experienced insurance broker about your requirements, as they may be able to tailor a policy to your specific needs. Remember all insurance policies have terms, conditions, limits and restrictions, but that makes it all the more important to consider your options carefully and find the right policy for you. So speak to a skilled insurance broker today.

Tip of the Day

Time management for Finance Professionals

time management

 

I’ve just re-read Richard Denny’s fantastic book ‘Selling to Win’, in which he mentions a time management technique that I learnt many, many years ago from an old boss of mine.

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