Car and Home Insurance Northern Ireland

Don't skimp on insurance. This probably doesn't sound like a way to save money. But keep in mind the purpose of insurance is to transfer to an insurance company the financial risk you can't afford to carry yourself. Without formal insurance, you are de facto self-insuring - meaning you'll pay out of your own pocket in the event of a financial disaster such as loss of a home or a serious illness.

For example, many renters don't own renter's insurance, which covers the loss of their personal property (no, the landlord's insurance doesn't cover it). Renter's insurance is very affordable, yet how many times do you read about people who lose everything in an apartment fire and have no insurance?

Buy the insurance you need. Carefully review your insurance needs with your financial adviser. Car, medical and home insurance are probably obvious. But do you have disability insurance in case you lose income due to an illness or injury? Many financial planners recommend clients buy long-term care insurance no later than their late 50s or early 60s to cover the high cost of potential long-term care. Do you have liability coverage beyond standard auto and home insurance in the event you are sued?

Watch out for gaps. People with multiple properties in multiple states, for example, often use multiple insurance agents for their property and casualty coverage, and can easily end up with expensive duplicated coverage - or worse, no coverage at all for some property because it was overlooked or because a policy expired. You may need "riders" or "floaters" to provide extra coverage for such things as jewelry or antiques whose value is limited under the standard policy.

And don't buy what you don't need. You'll probably need life insurance, but not necessarily. Life insurance generally is for people whose death will have a significant financial impact on others - a spouse, children, dependent parents, heirs who might face a hefty estate tax bill. You may not need it if you are young and single. And as you age, you may need coverage for only a limited time or for a smaller amount.

You also probably don't need to spend pounds on insurance for flights, pets, specific diseases, loans and car rentals. Buy the right amount of insurance. While people sometimes buy too much of a particular insurance, more often they are underinsured.

A good example where this is common is life insurance. People frequently base their decision on premium costs, not what death benefits they need. The better approach is to first calculate how much money you will need to replace future lost income necessary for your dependents. Then look at insurance options. Some people might be able to afford to buy adequate death benefits through a whole life policy, which has an investment component. But many others would be better off spending their limited insurance pounds on term life, which has no investment component and which allows you to buy more death benefit coverage for each premium pound.

Shop around. Costs vary significantly among carriers, so carefully compare for like coverage and features. But don't buy on price alone. You'll want to have a carrier that's financially sound so that it's there if you need the benefits.

Consider multiple policies with a single carrier. You often can get a better deal buying multiple policies through a single carrier, such as car, home, and liability. But not all carriers are strong in all lines. They might be good for property and casualty but not life and health, so be sure any savings are worth it.

Help yourself. Staying healthy, putting smoke alarms and security systems in your house, and having a good driving record can keep premiums down.

Increase deductibles and avoid small claims. Choosing larger deductibles will reduce your premium costs (self-insure the deductible through an emergency fund). They also reduce small claims, which have become a sore spot in insurance because companies are increasingly raising premiums or even dropping customers who make multiple small (and large) claims.

George McGonigal
Northern Ireland Insurance Centre

George is webmaster of an online insurance resource for Northern Ireland motorists and homeowners. We bring under one roof insurers who cover Northern Ireland that can offer online quotations to allow our visitors to compare rates in the comfort of their own homes. Car, Motor and Home Insurance Northern Ireland: Competitive insurance quotes online.

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Google News Updated : Sat, 05 Jul 2008 06:54:27 GMT How Jesse Helms Made a Difference - Wall Street Journal ABC News How Jesse Helms Made a Difference Wall Street Journal - 50 minutes ago By JOHN FUND If Ronald Reagan was the sunny and optimistic face of modern conservatism, the uncompromisingly defiant exemplar of it was Jesse Helms, who died yesterday at age 86. Video: A Look Back At Jesse Helms CBS NC Senator's Hard-Line Conservatism Helped Craft Republican Social ... Washington Post Houston Chronicle - Kansas City Star - DetNews.com - Austin American-Statesman all 1,886 news articles Publ.Date : Sat, 05 Jul 2008 06:04:04 GMT Estrich on Obama, Iraq, Experience and Race - FOXNews GulfNews Estrich on Obama, Iraq, Experience and Race FOXNews - 6 hours ago by Major Garrett The Bourbon Room had a long talk today with Susan Estrich, the campaign manager for Michael Dukakis’ 1988 presidential campaign. Video: AP Campaign Stories AssociatedPress Poll: Some Clinton supporters still not embracing Obama CNN Huffington Post - Newsweek - Chicago Tribune - CBS News all 2,146 news articles Publ.Date : Sat, 05 Jul 2008 00:14:13 GMT Red Sox 6, Yankees 4 Yankees’ Surge Lasts an Inning as Red Sox ... - New York Times National Post Red Sox 6, Yankees 4 Yankees’ Surge Lasts an Inning as Red Sox ... New York Times - 7 hours ago By TYLER KEPNER The first inning could not have gone better for the Yankees on Friday. The Boston Red Sox loaded the bases with one out, but Darrell Rasner survived with a pop out and a line out. Shoulder injury against Sox KO's Johnny Damon indefinitely New York Daily News A real off-the-wall play Boston Herald The Canadian Press - Times Herald-Record - The Associated Press - Sports Network all 438 news articles Publ.Date : Fri, 04 Jul 2008 23:34:48 GMT Free speech alive, well as protesters interrupt Bush - Houston Chronicle Washington Post Free speech alive, well as protesters interrupt Bush Houston Chronicle - 1 hour ago By PETE YOST AP CHARLOTTESVILLE, VA. - People lined up to be sworn in as new US citizens were unwitting witnesses Friday to a constitutional object lesson at President Bush's expense on the grounds of Thomas Jefferson's home, Monticello. Video: Bush Invokes Jefferson on July 4 AssociatedPress Bush Welcomes 72 New US Citizens New York Times Austin American-Statesman - Los Angeles Times - CNN - Charlottesville Daily Progress all 832 news articles Publ.Date : Sat, 05 Jul 2008 05:37:30 GMT Jalapeños Probed in Outbreak - Wall Street Journal Canada.com Jalapeños Probed in Outbreak Wall Street Journal - 50 minutes ago By JANE ZHANG and JANET ADAMY WASHINGTON -- Officials investigating the salmonella outbreak now are looking at jalapeño peppers as a leading suspect for spreading the bacteria that has sickened hundreds across the US over the past three months, ... Inspectors to halt import of some food from Mexico CNN Farmers say salmonella scare has hurt tomato sales The Associated Press Baltimore Sun - WUSF - News 10 Now - Nashua Telegraph all 390 news articles Publ.Date : Sat, 05 Jul 2008 06:04:01 GMT Flights of affinity - Xinhua WELT ONLINE Flights of affinity Xinhua - 3 hours ago BEIJING, July 5 -- Friday is a historic day for cross-Straits relations. It saw weekend chartered planes and the first batch of tourist groups from the Chinese mainland to its Taiwan island inaugurate. RPT-China, Taiwan airlines to see lift from new flights Reuters China-Taiwan direct: Readers react BBC News International Herald Tribune - AFP - guardian.co.uk - United Press International all 865 news articles Publ.Date : Sat, 05 Jul 2008 03:33:23 GMT The Senate Stalls on Medicare - New York Times ChattahBox The Senate Stalls on Medicare New York Times - 1 hour ago Before leaving town for the Fourth of July recess, Senate Republicans thwarted a vote on a sensible Medicare bill that would benefit doctors and patients at the expense of overpaid private health plans. Some Medicare benefits might fall, co-pays rise Pittsburgh Post Gazette Tennessee: Senators' votes anger doctors Chattanooga Times Free Press Washington Post - Sarasota Herald-Tribune - Rapid City Journal - CNNMoney.com all 551 news articles Publ.Date : Sat, 05 Jul 2008 05:04:31 GMT Clickbank Affiliate Work At Home

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