Loan protection insurance guide

What is loan protection insurance?




Loan protection insurance is designed to cover your monthly loan repayments if you are unable to work due to an accident, sickness or unemployment (depending on the policy terms). Policies can vary widely between insurers with some companies offering additional benefits such as critical illness and life cover; however, typically, cover is available for a period of 6 -12 months only. Taking out loan protection can provide peace of mind that your repayments will be met in case you are unable to work through no fault of your own, but this cover is optional and is not a condition of taking out a loan. 


What cover options are available?


Policies vary widely between loan protection providers but some of the features available may include: 


Accident and sickness cover: To cover repayments if you are unable to work due to illness or incapacity.

Unemployment cover: A monthly benefit if you are unemployed for a pre-determined period, usually for more than 15 days and up to a maximum of 6 - 12 months.

Hospitalisation cover: Some policies will pay if you have to stay in hospital for a pre-determined length of time, usually more than three consecutive days and up to 365 days.

Life cover: Several loan protection insurance providers also offer a lump sum equal to the amount borrowed under your loan agreement less any arrears. 
Additional considerations when taking out loan protection insurance


When taking out loan protection insurance it's vital to examine the terms and conditions carefully and to be mindful of exclusions.


 For example,


 you may not be able to make a successful claim if you have taken voluntary unemployment or you were dismissed for misconduct. Many providers do not pay out if your circumstances change during the policy term, such as if you reach the age of 65, or if you have a pre-existing medical condition. You should also pay attention to the wait period, which is the length of time you will have to wait before you are eligible to claim and receive a payout, and could be as long as 30-90 days. 


How to choose the right loan protection insurance policy




Loan protection insurance are often sold alongside loans themselves, however, it is optional and you may be able to find more comprehensive cover at a cheaper price by shopping around. It’s often worth applying the same forethought to a loan protection policy as to a loan itself by comparing as many policies as possible before you decide which one is right for you. 


Be sure to enter all your information accurately, as omitting or providing inaccurate information may invalidate your claim. Before deciding to purchase a policy you should ensure that the terms of the policy meet your demands and needs.

Student contents insurance guide

Starting university is exciting but it can be a daunting experience, too. With so much of your focus on meeting new friends, surviving Freshers' Week, starting your studies or simply finding your way around a new city, protecting your belongings might not be top of your list of priorities.

However, if you take just a minute or two to think about the things you own, and in many cases rely upon, such as your laptop, mobile phone, TV, clothes, iPod or camera, the value is probably greater than you think. So while buying insurance may seem dull, it's one of the most sensible investments you can make as a student, particularly since young people in the 16-24 age group are three times more likely to be victims of burglary and one in every three students becomes a victim of crime (source: Home Office Report ‘Crime in England and Wales 2007/2008’).
So what is student insurance and why do I need it?

Some students are under the impression that their belongings are covered under their parents' home insurance, but this is often not the case and even where cover is available it will usually be restricted. As a result, standalone student contents insurance policies are available to protect against loss or damage caused by risks such as theft, fire, vandalism, storm, flood and burst pipes.
With the average student now owning over £4,000 worth of belongings (Source: Endsleigh Student Possession Research 2008) student contents insurance can provide you with valuable peace of mind, regardless of whether you are in your first or final year of studies. Although insurance won’t make the loss, theft or damage of your belongings any less upsetting, it will ease the financial strain of replacing them.
Getting the right student contents insurance
The most important aspect of finding the right student insurance policy is ensuring that it provides suitable cover for your lifestyle. Always check the small print of the policies you're interested in to ensure they provide suitable cover for your needs. You may be living in shared accommodation or halls of residence but some student insurance policies will not cover ‘walk in theft’ (burglary without forced entry), and other policies may not cover pedal cycles or musical instruments as standard, for example.

Some insurance companies will offer flexible cover options so that you can pick and mix your cover depending on what you need - meaning you often have the option to insure one item, a selection of items or the contents of your whole room. To ensure you have an adequate amount of cover check the policy terms for item cover limits, any ‘total valuables’ limits (the maximum you can claim for multiple items), the excess (the amount you have to contribute in the event of a claim) and any exclusions (items or risks that are not covered).

Remember to check the period of insurance too, as your policy may cover your possessions during term time only and should you need cover to continue during holiday periods then you will need to speak to your insurer to arrange this.

Depending on the insurance company, other policy benefits may include a 24 hour student helpline, legal expenses cover, cover for course fees should you be deregistered due to death, illness or accident and accidental damage cover.

Business insurance guide and help topic

‘Business insurance’ is a general term that covers the different types of insurance policies that are advisable or may be a legal requirement for your business or enterprise.
Business insurance options include:
Business premises insurance, also known as commercial buildings insurance
Business assets insurance, also known as business contents insurance
Public liability insurance

Employers‘ liability insurance

Professional indemnity insurance
Other specialist policies
The level of cover available for each different type of policy is subject to the individual policy terms of each insurance company. You should always check the policy documents to see what's included as standard and what is considered an ‘optional extra’ i.e. available at an additional cost.
In this part of our guide we look at insurance for business premises and contents.
Insuring your business premises
If you have business premises then a business premises insurance policy will cover your commercial buildings against a range of risks, for example fire, explosion, storm damage and flooding. Some insurance companies offer ‘all risk’ insurance which provides cover for other damage and loss as specified in the policy terms, including accidental damage cover.
What level of cover will I need?
When you take out a business premises insurance policy you will need to insure the premises for the full rebuilding cost, also known as the ‘reinstatement value’, rather than the market value. The reinstatement value is the cost of rebuilding the property in the event of a total loss; your insurance company may give you the option to add on an additional percentage to protect against underestimates and index linking.
Don't be tempted to under-insure in order to cut costs, as should you need to claim then you will be limited to the amount you insured the premises for regardless of whether the actual loss or damage is more.
What if I am a tenant?
If you are a tenant then it may be your landlord who is responsible for insuring the premises, unless the business has a shop front, in which case the responsibility for acquiring suitable insurance cover will normally lie with the tenant. If your landlord is responsible for insuring the premises and your lease complies with the Code for Leasing Business Premises in England and Wales 2007 then the insurance should be fair, reasonable and represent value for money. You have the right to request details of any commission received by your landlord and the details of the relevant insurance policies relating to the premises.
What if I am a landlord?
If you are a landlord then there will be a variety of policy options available to you, including policies for premises that are unoccupied or let.
Insuring business assets or equipment
Insurance for business assets or equipment is also known as business contents insurance. It's designed to cover items such as stock, machinery or equipment and other contents.
What are my policy options?
When it comes to insuring business assets or equipment you will have a number of options open to you. In terms of cover, you'll normally have the choice of ‘replacement as new’ insurance or ‘indemnity’ insurance.
Replacement as new policies are also referred to as ‘new-for-old cover’ and, if the claim is valid, the policy will meet the full cost of replacing items if they are stolen or destroyed; alternatively, the cost of repair will be met if the items are damaged. Unlike replacement as new policies, ‘indemnity’ policies deduct the cost of wear and tear so that the policyholder is put back in the same state or financial position they were in prior to the loss.
There is also the option to take out a ‘business interruption’ policy to insure against loss of profits and increased overheads resulting from, for example, key pieces of equipment or machinery being damaged or stolen.
Working from home
If you operate your business from your home, or work from home on a regular basis, then you may need a specialist insurance policy as standard home insurance will not provide cover for business-related risks.
In the next part of our guide we explain what public liability insurance is and why it's necessary.

Van insurance guide and help

What is van insurance and why do I need it?

Since the Government brought in the Road Traffic Act (1930), van insurance has become a legal requirement for all drivers on the road. Therefore you are legally obliged as a driver to be insured against the possibility that you may injure another person or cause damage to another person's property. For example if you reverse your van into someone else's vehicle, your van insurance will pay for the repairs to the vehicle. Anyone who does not have van insurance could receive a fine or driving ban if they are caught.
How do insurers protect the victims of uninsured drivers?

In 1946 the Motor Insurers' Bureau was set up to provide a way of compensating the victims of uninsured or untraced motorists. All motor insurance companies must be members of the Motor Insurers' Bureau and contribute to its funding.
So if an uninsured or untraced driver injures you or damages your van, you should receive compensation from the Motor Insurers' Bureau.

Van insurance - the basics
What documentation or paper work will I get?
Once you have taken out your van insurance policy, your insurance provider will send you:
A certificate of insurance (or a cover note which is a temporary certificate)
A schedule and/or policy document
A policy booklet (or they will tell you where you can access one)
Your certificate is a very important document as it is evidence that you are legally insured and is one of the documents that police will ask to look at if you are stopped while driving.
A cover note may be supplied if the insurance company or broker needs time to complete the paperwork. This will give you the same protection as a insurance certificate but is only usually valid for 30 days.
Key things to remember!

Always read all the documents sent to you to make sure all the details are correct and that you have the level of cover you need. If you have any concerns or queries contact your broker or insurance company.
Ensure that you give the correct information to the insurance company or broker; otherwise your insurance may not be valid. If you do not, it could result in the insurance company not paying out if you were to make a claim.
Tell your insurer or broker everything that relates to you as a driver or road user, such as driving history, claims and convictions.
Keep all your policy documents in a safe place; you never know when you may need them!
What's included in my policy?
What your policy covers depends on what type of cover you have chosen and any additional cover you may have bought. The documentation you receive with you insurance policy should outline exactly what is covered.
What types of policy are there?
There are three main types of policy which each offer different levels of cover.
Third Party Only (TPO)

This van insurance is the minimum level of cover required by law in the UK. It covers:
Liability for injury to others (including passengers)
Damage to property
Liability whilst towing a caravan or trailer
Remember! This does not cover you for accidental damage to your own vehicle; you will have to pay for that yourself.
Third Party Fire and Theft (TPFT)
This covers everything that third party covers, plus:

Fire damage

The theft of your own vehicle
Damage to your van caused during the theft
Comprehensive
Comprehensive is the most extensive van insurance cover and includes everything third party fire and theft does and usually the following:
Loss or damage to your vehicle
Windscreen cover
Personal effects
Accidental damage
Medical expenses

Remember!
 Some van insurance companies are now offering cheaper policies that offer less protection. These may be known as 'stripped down' policies, for example the insurance company may have removed windscreen cover. Always check your policy documents to make sure you get the right level of cover for your needs.
How do I make a claim on my policy?

You need to tell your van insurance company as soon as you can when you have had an accident or if your van has been stolen, even if you are not going to claim.

If your van needs repairing once the insurance company has all the details of your claim they will inform you of the nearest approved repairers and arrange for your van to be repaired. An approved repairer is a garage that your van insurance company has a relationship with to do repair work on their behalf. If you do not go to an approved repairer then your insurance company may not pay for the repairs.

Pet insurance guide

To help you decide if pet insurance is right for you, we've compiled a short guide that explains what it is, how it works and how you could save money but still find the right cover.

What is pet insurance?

Pet insurance helps to cover the cost of veterinary treatment in the event of an insured pet falling ill or being injured in an accident. Some pet insurance policies will also pay out if a pet dies, is lost or stolen or causes injury to a third party or damages a third party's property. Far from being limited to cats and dogs only, many pet insurance companies will cover smaller pets too, such as rabbits - and even exotic pets, such as chinchillas and parrots.
Why do I need it?

Pets are a big part of our lives, so when they fall ill or are injured providing the best health care for them is important. With the advances in veterinary medicine, treatments are now available that were once reserved for humans, making once fatal conditions in animals now treatable. Veterinary practices also have access to much more sophisticated equipment than they did in the past, making it possible to detect and diagnose problems that would once have gone untreated. Inevitably, these types of treatments and diagnostics come at a price, leaving some pet owners faced with a difficult choice. For this reason, many opt to take out pet insurance as not only does it provide valuable peace of mind against spiralling vets fees, but it also allows them to fully explore all available treatment options.
Pet insurance policies in more detail
Some pet insurance companies will allow you to choose from a range of excess amounts when you take out the policy – the higher you set the excess, the cheaper your premiums are likely to be. However, remember to always set the excess at an amount you can comfortably afford should you need to make a claim.
What about pre-existing conditions?
A pre-existing medical condition is one for which a pet actually received care, treatment or veterinary advice before the cover came into effect. Most pet insurance companies will be willing to insure the pet, but will exclude the pre-existing condition from the cover.
Is pet insurance available for older pets?
Pet insurance companies typically treat dogs and cats aged eight and over as 'older pets'. Whilst cover is available for older pets, premiums are usually higher than for younger animals as they are considered to be at a greater risk of illness, particularly long term illnesses that are associated with age. Some pet insurance companies are still able to offer competitive premiums by increasing the policy excess or requiring that an additional contribution is made towards any claims. Where this is the case, it is usually a fixed percentage of the amount of the claim.
If you are looking to insure an older pet, the level of cover is important. Therefore always shop around and compare policies by features as well as price.

When comparing policies always compare on policy features as well as price, that way you can be sure you are getting the right cover for your needs. Spending a little more, rather than simply choosing the cheapest policy, may offer better value for money – but remember to check the excess on any policy you’re interested in before you buy. If you don't, you may have a nasty shock when you come to make a claim

Bike insurance guide

Go for recognised security features

Motorbikes can be a real target for thieves but if you go for industry-approved security measures, many insurers will chop a further 10% off your premiums.

But what are these approved steps? Most insurers want to see that your security devices, such as immobilisers, heavy duty locks and ground anchors, are Thatcham approved.


Motorcycle insurance is required by law. It is to make sure people can cover the costs of any riding related damage or injury. For example if you crash your bike into someone else, motorcycle insurance will pay for the repairs to the other vehicle.
The most important part of looking for a suitable insurance policy is understanding what cover you need and what type of risk you are to an insurance company.
An insurance company will look at a number of factors to determine what type of risk you are i.e. how likely you are to make a claim on a policy, such as:
your riding history (have you a number of prior claims or convictions which may make you a greater risk?)
the area in which you live (is there a lot of vehicle crime in your area?)
the type of bike you ride (is it a high-performance bike?)
Almost every piece of information you are asked when you get a quote will have some influence on the cost of your bike insurance.
Motorbike insurance is there to offer both financial cover and peace of mind for you and everyone else on or about the road.
How do insurance companies protect the victims of uninsured riders?
Even though by law you have to have motor insurance, you can guarantee that somewhere there is someone on the road without insurance cover.
In 1946 the Motor Insurers' Bureau was created. It ensures victims of untraced or uninsured motorists are compensated for their losses. All motor insurers must be members of the bureau and contribute to its funding.
The Bureau has a database with details of private and fleet motor insurance policyholders. The police can access the database and see whether or not motorists have current insurance during spot checks, or at the scene of an accident. The Motor Insurance Database is currently run by the Motor Insurers' Information Centre.
When an uninsured or untraced rider injures a third party or damages their property, the third party should receive compensation from the Motor Insurers' Bureau.
If a motorbike is stolen and the thief damages property or injures someone, the insurance company for the bike will be liable to pay the costs involved.

Documentation or paperwork

When you purchase your motorbike insurance, your insurance company will send you documentation to prove you are legally insured to ride on the road. You'll have to show proof of insurance for example if you get stopped by the police for any reason. The law currently gives you seven days to prove your valid insurance cover to the police.
You should receive the following documents from your insurance company:
Cover note
A cover note is a temporary certificate of insurance which is usually issued to allow either a broker or insurer time to complete their paperwork before they issue the full certificate. It usually lasts for 30 days.
Certificate of insurance
This is the document that proves your legal motor insurance cover as required by the Road Traffic Act.
Schedule and/or policy document
The schedule and/or policy document sets out the full the terms and conditions of your insurance policy.
Remember! You should always read all the documents sent to you, firstly to check that the level of cover you agreed with the insurance company is correct and to also make you aware of any policy exclusions. It is your responsibility to be aware of the exact cover you have agreed. If you have any concerns or queries, contact your broker or insurance company.

No claims discount

For every year you're insured and don't make an insurance claim you will build up a no claims discount. The amount of discount you receive can vary but could be from around 30% discount the first year, increasing to around 60% for your fourth year.
If you make a claim on your policy and your insurance company can't recover their costs, it will affect your no claims discount even if the accident was not your fault. It is a 'no claim' not a 'no blame' discount.
Should you have a claim which is considered to be your fault then you will lose some of your no claims discount. The amount of discount you lose will vary from one insurance company to the next.
Bike insurance and optional extras
Sometimes you want some extra cover on your insurance, which isn't included in the policy itself, for example you may want breakdown cover. This extra cover is known as an optional extra or ancillary product and can be bought with your insurance policy.
Legal assistance or protection
Also known as legal cover or Uninsured Loss Recovery, legal assistance helps cover legal costs following an accident where a third party was at fault.
Legal professionals will deal with your case for you and try to recover any losses on your behalf, for example medical losses, loss of earnings or recovering your policy excess. They will also make a claim for compensation for you if you are injured.
How bike insurance quotes are calculated?

Insurance companies take lots of factors into account when working out what to charge you for your motorbike insurance, which is why they ask so many questions. They work out what type of risk you are to them (how likely it is that you will make a claim on your policy) and charge you accordingly.
They will look at:
Claims history

If you've made a claim on your motorbike insurance in the last 5 years, you must tell your insurance company about it. If an insurance company has had to pay out for a claim, they will see you as a greater risk to them and charge you more for your policy.

Having made a claim doesn't necessarily condemn you to paying huge sums for your motorbike insurance though. Just run a quote through Gocompare.com and we'll bring you prices from the most competitive motorbike insurance companies in the market.

Riders

An insurance company will ask for information about who will be riding your bike, including their riding history, age, claims and convictions history etc. Adding a rider under 25 who has a speeding conviction and has previously crashed their bike will certainly increase your insurance costs compared to letting a 40 year old with a no claims or convictions ride your motorbike.

Riding convictions

It stands to reason, the more riding convictions you have, the more you will be charged for your insurance – someone who speeds habitually may be seen as having more chance of being involved in an accident and so will cost their insurance company money.

CAR INSURANCE GUIDE

Another excellent kind of insurance policy available for your car is the one that covers medical injuries that are caused by car accident in which you were not the faulty party. Then, there is even the Personal Injury Protection policy that helps to cover the insured for any injury faced from car accident. Moreover, there are even some insurance policies that have the capacity to cover motorist from the car damages in case of a car accident with the driver without liability Another excellent kind of insurance policy available for your car is the one that covers medical injuries that are caused by car accident in which you were not the faulty party. Then, there is even the Personal Injury Protection policy that helps to cover the insured for any injury faced from car accident. Moreover, there are even some insurance policies that have the capacity to cover motorist from the car damages in case of a car accident with the driver without liability insurance. 


Just like other kinds of insurance plans and schemes are available in the market, same goes with your car. There are indeed various types of insurance plans to choose from, depending largely on your needs and requirements. You can find liability car insurance policy that actually cover for the accidental body injuries and property damage to other parties. These are even some plans that cover just the damages that are caused due to collisions with vehicles. More so, there are some comprehensive policies as well that cover for all the damage and loss faced by the insured vehicle by situations apart from car accidents. These may incorporate loss and damage because of theft, vandalism, hail or fire.


There is yet another kind of car insurance that you can choose to have. This includes covering the car damages that are caused by car accident which is done by the other driver with insufficient liability cover. Even for your rental cars, you can enjoy an insurance plan. Knowing what your needs actually are and becoming aware about the best insurance providers can help you choose the most affordable and useful car insurance to cover your vehicle. 


Also, there are different types of discounts offered when it comes to car insurance. These discounts are readily available for the young married couples, people who have reached the age of 25 years or so, for families having various vehicles, for the non smokers, for drivers having good driving record and for people with good credit history. Such discounts can actually make a great difference in premium which is paid and it is good to note that a large number of vehicle owners get eligible for over one discount on their car insurance plan. 




What is more interesting to note is that as per the type of vehicle insurance you take, your vehicle can be replaced or repaired thereby saving huge amounts. In fact, driving on the roads without a car insurance can even result in suspension of your driving privileges and thus in some cases, you might even get entitled to pay huge fines and go in jail. 


Comparison shopping on the net is very important in order to know the best types of car insurance plans available in the market. With comparison shopping, you can get the insurance that suits not just your needs and specifications, but the set budget as well. Maintaining a car insurance serves to be an excellent way of protection. So wait no more and fulfill your responsibilities to protect yourself, your vehicles and others on the road using quality car insurance. In all, be mindful and you can enjoy safe driving. 
insurance. 


Just like other kinds of insurance plans and schemes are available in the market, same goes with your car. There are indeed various types of insurance plans to choose from, depending largely on your needs and requirements. You can find liability car insurance policy that actually cover for the accidental body injuries and property damage to other parties. These are even some plans that cover just the damages that are caused due to collisions with vehicles. More so, there are some comprehensive policies as well that cover for all the damage and loss faced by the insured vehicle by situations apart from car accidents. These may incorporate loss and damage because of theft, vandalism, hail or fire.


There is yet another kind of car insurance that you can choose to have. This includes covering the car damages that are caused by car accident which is done by the other driver with insufficient liability cover. Even for your rental cars, you can enjoy an insurance plan. Knowing what your needs actually are and becoming aware about the best insurance providers can help you choose the most affordable and useful car insurance to cover your vehicle. 


Also, there are different types of discounts offered when it comes to car insurance. These discounts are readily available for the young married couples, people who have reached the age of 25 years or so, for families having various vehicles, for the non smokers, for drivers having good driving record and for people with good credit history. Such discounts can actually make a great difference in premium which is paid and it is good to note that a large number of vehicle owners get eligible for over one discount on their car insurance plan. 

Fire Insurance guidance

Riot and Strike Damage    

This policy provides coverage against loss or damage caused due to riot & strike or civil commotion or malicious damage due to any persons who are members of an organization whose aim is to over-throw any legal or defacto Government by terrorism or violence. 

 Riot and Strike Damage    

This policy provides coverage against loss or damage caused due to riot & strike or civil commotion or malicious damage due to any persons who are members of an organization whose aim is to over-throw any legal or defacto Government by terrorism or violence. 


Allied Perils    

This is the most important and basic form of insurance and is essential for all types of business concerns. Fire and Allied Perils Insurance provides comprehensive cover in respect of loss of or damage to your property against fire and lightning. To further safeguard the interest of our valued clients the policy can be extended to cover riot and strike damage, malicious damage, atmospheric disturbance, earthquake (fire and shock), explosion, impact damage, aircraft damage etc. 
 Riot and Strike Damage    

This policy provides coverage against loss or damage caused due to riot & strike or civil commotion or malicious damage due to any persons who are members of an organization whose aim is to over-throw any legal or defacto Government by terrorism or violence. 


Allied Perils    

This is the most important and basic form of insurance and is essential for all types of business concerns. Fire and Allied Perils Insurance provides comprehensive cover in respect of loss of or damage to your property against fire and lightning. To further safeguard the interest of our valued clients the policy can be extended to cover riot and strike damage, malicious damage, atmospheric disturbance, earthquake (fire and shock), explosion, impact damage, aircraft damage etc. 


Home Insurance Plan    

To live in one’s own home is cherished by every one of us. In these tough times, it is very hard to retain a house, which is exposed to several risks such as riot and strike damage, malicious damage, atmospheric disturbance, earthquake (fire and shock), explosion, impact damage and aircraft damage. The United Insurance provides a policy to cover the interest of homeowners. The plan provides coverage on building as well as contents against the risks the property may be exposed to. The coverage for buildings includes the risks of fire and all dry/wet perils. Contents (including jewellery and cash) are similarly covered including the risks of burglary and dacoity. 


Besides material damage, UIC’s Home Insurance also provides for loss or rent, legal liability to public and domestic servants. 

 
Hotel Owner All Risk    

As the name of policy signifies, it is specially designed to cater to all the insurance needs of a hotel owner. This policy has been adapted from the wording prevalent in international markets, as such coverage provided by it meets the requirements of management agreements, which owners usually enter with international chains of hotels. This policy is divided into 8 sections covering fire and supplemental Perils Insurance. Business interruption following Fire and Supplemental Perils, Comprehensive Plate Glass Insurance, Boiler and Machinery Breakdown Insurance, Business Interruption following Machinery Breakdown, Comprehensive General Liability, Comprehensive 3D Bond Insurance and Workmen's Compensation Insurance. 


Terrorism Cover    

We live in an altogether different world after September 11, 2001. Post 9/11 scenario resulted in removal of terrorism cover globally, leaving the insured and the insurer at a difficult juncture. We, at The United Insurance Company of Pakistan Ltd. created niche for our valued clients by designing a policy exclusively for the risk of Terrorism. This policy is issued in conjunction with Fire and Allied Perils Policy protecting the interest of insured up to a specified limit. 

Home Insurance Plan    

To live in one’s own home is cherished by every one of us. In these tough times, it is very hard to retain a house, which is exposed to several risks such as riot and strike damage, malicious damage, atmospheric disturbance, earthquake (fire and shock), explosion, impact damage and aircraft damage. The United Insurance provides a policy to cover the interest of homeowners. The plan provides coverage on building as well as contents against the risks the property may be exposed to. The coverage for buildings includes the risks of fire and all dry/wet perils. Contents (including jewellery and cash) are similarly covered including the risks of burglary and dacoity. 


Besides material damage, UIC’s Home Insurance also provides for loss or rent, legal liability to public and domestic servants. 


Hotel Owner All Risk    

As the name of policy signifies, it is specially designed to cater to all the insurance needs of a hotel owner. This policy has been adapted from the wording prevalent in international markets, as such coverage provided by it meets the requirements of management agreements, which owners usually enter with international chains of hotels. This policy is divided into 8 sections covering fire and supplemental Perils Insurance. Business interruption following Fire and Supplemental Perils, Comprehensive Plate Glass Insurance, Boiler and Machinery Breakdown Insurance, Business Interruption following Machinery Breakdown, Comprehensive General Liability, Comprehensive 3D Bond Insurance and Workmen's Compensation Insurance. 


Terrorism Cover    

We live in an altogether different world after September 11, 2001. Post 9/11 scenario resulted in removal of terrorism cover globally, leaving the insured and the insurer at a difficult juncture. We, at The United Insurance Company of Pakistan Ltd. created niche for our valued clients by designing a policy exclusively for the risk of Terrorism. This policy is issued in conjunction with Fire and Allied Perils Policy protecting the interest of insured up to a specified limit. 
Allied Perils    

This is the most important and basic form of insurance and is essential for all types of business concerns. Fire and Allied Perils Insurance provides comprehensive cover in respect of loss of or damage to your property against fire and lightning. To further safeguard the interest of our valued clients the policy can be extended to cover riot and strike damage, malicious damage, atmospheric disturbance, earthquake (fire and shock), explosion, impact damage, aircraft damage etc. 


Home Insurance Plan    

To live in one’s own home is cherished by every one of us. In these tough times, it is very hard to retain a house, which is exposed to several risks such as riot and strike damage, malicious damage, atmospheric disturbance, earthquake (fire and shock), explosion, impact damage and aircraft damage. The United Insurance provides a policy to cover the interest of homeowners. The plan provides coverage on building as well as contents against the risks the property may be exposed to. The coverage for buildings includes the risks of fire and all dry/wet perils. Contents (including jewellery and cash) are similarly covered including the risks of burglary and dacoity. 


Besides material damage, UIC’s Home Insurance also provides for loss or rent, legal liability to public and domestic servants. 


Hotel Owner All Risk    

As the name of policy signifies, it is specially designed to cater to all the insurance needs of a hotel owner. This policy has been adapted from the wording prevalent in international markets, as such coverage provided by it meets the requirements of management agreements, which owners usually enter with international chains of hotels. This policy is divided into 8 sections covering fire and supplemental Perils Insurance. Business interruption following Fire and Supplemental Perils, Comprehensive Plate Glass Insurance, Boiler and Machinery Breakdown Insurance, Business Interruption following Machinery Breakdown, Comprehensive General Liability, Comprehensive 3D Bond Insurance and Workmen's Compensation Insurance. 

Terrorism Cover    

We live in an altogether different world after September 11, 2001. Post 9/11 scenario resulted in removal of terrorism cover globally, leaving the insured and the insurer at a difficult juncture. We, at The United Insurance Company of Pakistan Ltd. created niche for our valued clients by designing a policy exclusively for the risk of Terrorism. This policy is issued in conjunction with Fire and Allied Perils Policy protecting the interest of insured up to a specified limit. 

Gide of insurance policy what is insurance

The first step to achieving adequate protection is putting yourself in a position where you can make the informed decision yourself with the knowledge that you have gained and then go out and buy your own insurance or visit a professional that can do this for you on your behalf.
Insurance is a necessity that is applicable to each and every one of us in one way or another, however it is vital that we know exactly what it is that we need before we go shopping for it, just like making a meal at home, you have to know the ingredients that you need in order for it to turn out the way that you want it to. It is no different for insurance, you know what you need to be insured against, for instance you have a car and a mortgage, so you need to know which insurance policies are required to cover these. So you know you need insurance and this is a good place to start in your quest to get the right kind.
Whether you are looking for types of insurance such as health insurance, auto insurance or one of a whole range of other contracts available in the market today, we will surely have some information here that you can take away with you which you will find useful in making your decisions.

It really does pay to do some research before going ahead and buying insurance. By going directly to an insurer's website it can be a very confusing experience.
life insurance
When you think 'do I need life insurance?' it is not as simple as going to a broker or insurance company and buying a generic life insurance product. There are a range of life insurance policies available each with their own various benefits. It is important that you know exactly what benefits you are interested in before hand so that when it comes to picking a Life Term Insurance Policy or a Whole of Life policy to name a couple of the options, you are getting the insurance that is best suited to your individual needs.
Fundamentally, many companies will offer the same products across the market there can be many variations and additional features that can be purchased on each insurer's version and it is important to know exactly which contract suits your individual needs before you go shopping for it! This is not to mention niche insurance which may not necessarily be available from the bigger insurers and can be harder for a consumer to find somebody who will cover them, let alone provide any sort of definitive explanation as to whether the policy will suit their needs or not
As previously mentioned we are not trying to sell you insurance nor provide financial advice, just help you with some simplified, jargon free explanations as to how every day insurance contracts work.
Basic Life Assurance

Basic life insurance is a very simple type of insurance policy that will run for a pre-determined period of time and will pay out a pre-determined figure should the life assured/s on the policy die. It is relatively inexpensive and is much needed protection for you and your family. These types of life insurance policies can also be taken out solely as security on a mortgage or debt too. Basic life insurance is most commonly term life insurance and there are various types of life insurance policy under this heading.
For example Mr and Mrs Smith take out a 20 year life assurance policy which will pay out $50,000 on the death of either of the lives assured to the survivor. The policy will have an agreed commencement date of 1 July 2010 and the policy will expire on 31 July 2030. In this scenario the policy is against the life of Mr and Mrs Smith, they are both the policy owners/holders and the lives assured.
A monthly, quarterly or annual premium is paid throughout the term in order to keep the policy in force and valid.
It may be that the policy length or term as it is better known is only available in increments of 5 years with some insurers and the term limit is quite often 30 years.

How long you take the policy out for is completely up to you, for instance a younger couple with a new mortgage and who are yet to have children may take out a longer policy so that the mortgage is covered and should they later decide to have children they are covered for many years of the child's life while they are depended upon.

The amount of cover taken out is also up to you but the insurer can ask for this to be justified. Things needed to be taken into consideration are for example the outstanding value of your mortgage or the living costs of your family.

Variations could be that Mr and Mrs Smith both take out a life assurance policy but the life assured is only Mr Smith, or they take out two with one of them being a life assured on each. These policies will only pay out on the death of the life assured on that policy to the surviving policy holder. Mr Smith could also take a policy out and be the policy holder with Mrs Smith as the life assured and visa versa. The policy holder is always the owner of the policy and the benefactor, the lives assured are simply the people who's live the insurance is taken out against. It can however be possible for the policy to pay out to named beneficiaries, these must be proven to be dependent upon the lives assured.

Insurance policy

insurance is a policy a large financial institution offers a person,compnay other entity reimbursement financial protection against possible future losses or damages insurance is brought in order to hedge the possible risks of the future witch may not take place this is a mode of financially insuring that if such a incedent happens then the loss does not affect the persent well-being the person or the property insured thus,through insurance,a person buys security and protection
simple example will make the meaning of insurance easy to understand.A bikeris always subjected to the risk of head injury.but it is not certain  that the accident causing him the had injury would definitely occur.still,peopel riding bikes cover their heads with helmetinsurance by protecting him/her from any possible danger. The price paid was the possible inconvenience or act of wearing the helmet; this ie equivalent to the insurance premiums paid.Insurance can be defined as the process of reimbursing or protecting a person from contingent risk of losses through financial means, in return for relatively small, regular payments to the insuring body or insurance company.
LIFE INSURANCE
It insures the life of the person buying the Life Insurance Certificate. Once a Life Insurance is sold by a company then the company remains legally entitled to make payment to the beneficiary after the death of the policy holde.
HELTH INSURANCE
This is also known as mediclaim. Here, the policy holder is entitled to receive the amount spent for his health purposes from the insurance company.
General Insurance
This insurance type involves insuring the risks associated with the general life such as automobiles, business related, natural incidents, commercial and residential properties,etc......
 

Introduction to this blog

 This blog contain data about insurance companies packages and this blog facilitate readers about all relevent topics about Insurance.
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