Types of Insurance
Different types of insurance are as below :-
Mandatory Insurance – this is insurance that you must have.
Motor : Everyone who has a vehicle must have it insured by law.
Buildings : Buildings cover, your mortgage provider will require you to have buildings cover if you have a mortgage.
General Insurance – this is insurance that is down to your choice, things to consider are if your self – employed how would you manage if you were out of work? Would health or critical illness cover be useful?
Life Insurance : this insurance that can pay your mortgage of if you die, check if you are covered under your employment benefits before taking this out.
Health : this cover the cost of private health care.
Critical illness : Income protection- provides a lump sum or income if your diagnosed with serious long-term life threating illness.
Content insurance – this cover all the belonging in your house.
Phone/Gadget : always check if these are included I your home contents insurance if not some bank account covers your gadgets if your register them – they may limit you to 1 claim so double check the small print.
Travel : covers loss of luggage, flight cancellations, medical expense if you fall ill. Some package holidays are covered the ATOL scheme if they are a member.
Pet – this covers your pet should it need medical treatment or an operation.