Family Fleet

Family Fleets are designed for High Net Worth individuals who have several cars and want to bring them together under one policy. This is an increasingly popular way to insure, consolidating all your vehicles into one policy as you will only have one renewal and often it can be more competitive insuring them together.

There are different levels of cover depending on the cars you have because they believe if you choose to drive a car the level of cover should reflect what you choose to drive. As with High Net Worth household insurance, cover often offers enchantments over a standard motor policy.

Acceptance requirements

Minimum Age of policyholder	30
Minimum number of vehicles	Two
Minimum premium	£1,000
Track days	Cover is available but            underwritten individually
Young drivers	Cover is available but         underwritten individually

Benefits of cover

ü      Named drivers can drive other cars fully comp

ü      Cover for “Any Driver with policyholders permission” can be obtained

ü      Emergency transport to an agreed sum

ü      Foreign Use

ü      Future Disability

ü      Loss of road fund Licence

ü      Courtesy vehicle similar to the one insured

ü      Own Choice of repairer

ü      Travel costs-inability to drive, loss of licence

Some optional covers you can take with this policy are track day cover, so if you decide to go have a race with you friends we can provide that cover for you alongside your original cover. This option is available for classics and modern classics as well so you don’t have to shop for the cover elsewhere.

We also provide home assist and now European assist including caravan/ Trailer so if you travel regularly we can give the peace of mind that most eventualities will be taken care of.

Family Fleets are a great way to insure all your families cars under one policy and the best way to obtain the cover would be to go to an independent insurance like us TL DALLAS AND CO and get a quote that is suitable to your needs

Call me on 01274 465 523 and I will be more than happy to help

High Net Worth Home Insurance: Policies for Higher Sums Insured

This type of policy is a great way to insure your home if you think the limits in a standard policy are not enough and you require higher sums insured. This could be because you are a collector and want to insure your valuable collection, or you might work from home and want to cover your office equipment, or you might simply be a wealthier individual for whom a standard policy does not provide adequate protection.

This policy is designed around you and your lifestyle and can be tailored to cover your specific needs. The policy wording is very different from a standard policy which insures against specific perils like the ones listed in my HOME INSURANCE blog. This type of cover generally lists exclusions and gives wider terms making it very easy to understand. Usually, if it is not mentioned in your exclusions then you should be covered – although I recommend you do check with your broker if you are in any doubt

Benefits of this cover

ü      Wider Cover

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ü      Higher inner limits

ü      Worldwide cover on all your Contents

ü      Physical loss or damage on your Buildings

ü      You have 60 days to declare new possessions

ü      Acquired disability cover

ü      Hole in 1 cover

ü      Marquee cover

ü      Possessions of relatives in care

ü      Possessions of domestic staff and visitors

ü      Family Legal Protection

ü      Legal Expenses cover

ü      Possessions of  students away from home

As well as having the option to cover your buildings and contents and valuables, you can also insure more specifically for antiques and fine arts which in most cases will also help reduce the overall premium.

You could have a painting worth several thousand pounds but the artist dies resulting in an increase in value. All of a sudden the painting is stolen. The value of the painting might triple during the period. You needn’t worry as the death of artist cover will help with funds to cover your loss.

Kidnap and ransom cover will provide funds towards meeting a ransom and will appoint crisis management consultants to advise upon and help negotiate towards a safe release.

If you are a regular traveller why not include an Annual Travel extension as an optional extra? Again this provides much wider cover than standard travel policies giving much higher limits of cover for cancellation, medical emergencies, repatriation expenses, emergency travel and much more.

Personal security risks like identity fraud, road rage, and even the threat of stalking, can often be accommodated under a special Family Security extension. But I would advise you to discuss this more thoroughly with a specialised broker like us (TL Dallas and Co) to obtain the best advice and most appropriate solution for your needs.

These are just some of the advantages available with High Net Worth insurance and as you can see, positions this type of policy above Standard Home contracts typical of those offered by direct writers or comparison websites.

So what are you waiting for pick up that phone and give me a call on 01274 465 523 – I will be happy to see how I can help you.

Home Insurance-Benefits and cover explained

This blog today explains what home insurance is and may help you choose which policy to buy. So if you are moving home, or have already moved and don’t have cover or perhaps just trying to increase your knowledge about the cover it can provide then this is just for you

Essentially Home insurance consists of Building and Contents Insurance. Although you can buy these separately, there are significant benefits for combining them in one policy e.g. one excess and insurer in the event of a claim, discounted premiums and one renewal date.

You may require a standard policy or a high net worth policy depending on what type of home you own and what type of property you are covering. For example if you own a 3 bedroom home worth £180,000 you would need a standard policy whereas if you own a 5 bedroom mansion worth £1,000,000 then you would require a more bespoke policy written around your specific needs and lifestyle. Similarly if you have a valuable collection of art, antiques wine etc, then a bespoke policy would be required.

Below are some examples of the types of perils you would normally expect to insure for and what they cover.

Buildings Insurance

This covers damage to your building and includes; garages, permanent fixtures and fittings (showers, baths, sinks, etc), paths, patios, walls gates and fences. This cover is recommended if you are a home owner and would like to protect your home: In many cases it is the most valuable possession you own. If your home is bought via a mortgage, many lenders will require you to have this insurance to protect their interests in the property.

As with the Contents cover, Buildings Insurance usually covers you for loss or damage caused by specific perils for example: fire, lightning, explosions, earthquake, smoke, storm or flood, malicious damage, theft, collision, and falling trees. I recommend checking your policy to make sure exactly which perils you are covered for.

Contents Insurance

This cover is usually bought individually by tenants or combined by home owners to insure the contents inside the home. If for example you tipped your house upside down everything that would fall out would be your contents. For example this would include household goods, personal property, money, jewellery, valuables, art work and furnishings.

As with the Buildings cover, Contents insurance covers you for loss or damage caused by specific perils for example: lightning, explosions, earthquake, smoke, storm or flood, malicious damage, collisions,  and theft, . Again I recommend checking your policy to find out exactly which perils you are covered for.

Extensions such as legal expenses, travel etcetera are available. I will write future blogs so you can find out what extensions may be suitable for you.

Before getting a quote make sure you are clear on what your property rebuild value is (this not the market value of your property)as there are consequences for being underinsured when making a claim or you may be paying too much premium if the rebuild value you have given to the insurer is too high . You can check your property rebuild value by visiting- http://abi.bcis.co.uk/calculator/calculator.aspx

I hope this article was helpful. If there is anything you would like this blog to address in the future please feel free to comment below.

Peril- exposure to the risk of being damaged, destroyed.

Policy- contract between the insurer and the insured.

What does Personal Lines Insurance mean?

Personal lines insurance includes Car insurance, Home insurance, Travel Insurance, Pet insurance, Mobile insurance and any other types of Insurance not used for Business purposes.

Personal Lines are designed to insure common risks and have standard cover for everyone who is insured through the insurer. Example:-

Bill and Ben are brothers. Bill lives in South Wales and Ben lives in London. They both drive different cars and  Bill lives in a spacious 3 bedroom house while Ben lives in a fancy apartment. They both use the same insurer  and their policy for car and home insurance so they are covered for the same things although the premiums will be different according to the postcodes , type of car, previous claims history ect.
Of course extensions such as legal cover are available and I will talk about individual policies and the recommended extensions to go with them.

The best way to obtain personal lines insurance would be through your broker as they can ensure the cover meets your exact needs, highlight any exclusions or limitations to you and will recommend insurers that they now will perform when you need to claim. Your broker can also make the claim for you if they have a claims handling department and you would benefit from their experience as they deal with claims on a day to day basis.

If you decide to obtain the insurance yourself do research on the company to see if they are good at paying claims or ask a friend to recommend there insurance provider to you if they have had claims paid. Always check the policy before signing up to anything for exclusions or warranties that aren't covered, especially when signing up on comparison websites. Remember when something sounds too good to be true, it usually is so do your research.

Carry on reading as I will be writing on individual personal lines, what extensions to get how to ensure you get the best cover for your money.




  




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About insurance Smart

I have worked in the insurance industry for a little while now have found people are not always clued up on insurance and the differences between policies.  Insurance documents are rarely read properly and usually put away in a folder and left to gather dust as the year goes by.

What inspired me to start this blog was a colleague of mine when he pointed out to me that your insurance is only as good as the company that you pay your premium to.

This made me think about how much research goes into insurance when a person or company are buying policies and what kind of cover is actually available.

Do you now what I found?

Most people just compare and buy the cheapest options which can be full of exclusions and limitations because the proper research and understanding is not there.

The whole point of insurance is to protect yourself from a loss in case anything goes wrong. Why would you then pay for policy that is a few pounds cheaper but won't pay out when you claim.

This blog will help you to choose your insurance provider wisely, learn how you can lower premiums and read about the different types of personal and commercial policies and recommended extensions that are available.

Carry on reading to become Insurance Smart :)