Green Moms Network

Top Menu

  • Home
  • Our Blog
  • About
  • Privacy Policy
  • Advertisers
  • Media
  • Contact Us

Main Menu

  • Home Page
  • Family
  • Leisure
  • Eco-Travel
  • Shopping
  • Healthy Lifestyle
    • Fitness
    • Food
  • Fashion
    • Design
  • Home
  • Our Blog
  • About
  • Privacy Policy
  • Advertisers
  • Media
  • Contact Us

logo

  • Home Page
  • Family
  • Leisure
  • Eco-Travel
  • Shopping
  • Healthy Lifestyle
    • Fitness
    • Food
  • Fashion
    • Design
Finance
Home›Finance›A Beginner’s Guide to Insurance

A Beginner’s Guide to Insurance

By Suzy
June 19, 2019
729
0
pexels photo 1134857

By Maia Gummer

We all know if the word insurance is mentioned many of us zone out immediately! However it is crucial for protecting yourself and your family against the risks the world presents. There are endless types and policies that would baffle anyone. These can incur unfair costs to an individual who is not in the know and purchasing unnecessary policies. We’ve put together this comprehensive guides for beginners, to help you understand the insurance basics and legal requirements. We aim to save you time AND money!

Check your insurance policies cover at least the following:

Car Insurance

Car insurance comes in three different formats – Third Party, Third Party, Fire and Theft, and Comprehensive. Legally, individuals are required to have at least third party insurance from car insurance companies. This is the most basic coverage for other people involved in an accident, and damage to other’s property. It protects you against personal injury claims, which can otherwise rack up into ridiculous prices worth more than any insurance plan. Comprehensive car insurance is the most expensive form of insurance, but in return provides the largest coverage.

Driving without at least third party cover leads to disqualification from driving, and potentially prison depending on the situation. Although beware as it doesn’t cover you if your car is damaged or stolen! Check out these other ways to lower the expenses on your car.

Travel Insurance

This is a necessity if you need any kind of medical care when you are travelling. It covers your emergency medical expenses, most up to £1 million, and will fly you home for treatment if needed. Beyond this they cover lost or stolen bags, the costs of cancelling or delaying your trip, and personal liability. This is in the event you are sued for accidentally damaging property or causing injury.

Check out Compare The Market, for top deals and best value travel insurance that will save you time and money.

Home Insurance

Home insurance is split up into two different forms: buildings insurance and contents insurance. The latter is not essential, but is strongly recommended in case your house is burgled or damaged by flooding or fire damage. It covers your possessions, and will replace them in the event they are stolen or damaged.

However, buildings insurance is a legal requirement that covers the cost of repairing your home from damage. This could be from natural disasters, fires, lightning etc, and without it costs can be astronomical. Not only does it save money in the long term, but will assist you when taking out a mortgage.

Life Insurance

This is crucial for people with dependents, who remain reliant upon your income after your passing. It pays them a large sum, or regular payments if preferred, after your death to assist with expenses that must be taken care of. Many employee packages include ‘death in service’ benefits, which cover much of this and will save you money. Although should you be young and healthy this insurance is excellent value!

Critical Illness Insurance is similar to this, providing you and your family with a large sum of money should you be diagnosed with a life threatening illness. Many employee packages include this, although it is not as essential as life insurance.

pexels photo 905874

Health Insurance

For countries without free medical care, this is crucial. Medical treatment is up there with some of the greatest costs facing citizens of a country, and families without insurance all too often find themselves facing vast costs should one of them fall ill, a time when they’re at their most vulnerable. This will reimburse some or all of your medical care and covers most in-patient treatments. Even countries with a health service have private medical insurers, for specialist surgeries and other procedures that you can’t get on the NHS.

Pet Insurance

This form of insurance is optional but common, and extremely beneficial if you have a pet, especially those with hereditary conditions or prone to illness. It pays for your pet’s veterinary treatment should it be needed, and since these costs are rising constantly can work out good value for money! We all know animals have a mind of their own, but it is all too easy for a situation to turn dangerous and your pet develops a chronic illness or gets a very serious injury.

Previous Article

Green Moms Network Week in Review

Next Article

A Busy Mom’s Guide to Taking Care ...

Suzy

Related articles More from author

  • word image 1
    Finance

    Guide to Online Installment Loans: What You Need to Know

    September 2, 2019
    By Suzy
  • word image
    Finance

    Payday Loans in San Antonio with Check ‘n Go!

    December 17, 2019
    By Suzy
  • pexels photo 938965
    Finance

    Do You Need an SSN to Acquire an EIN?

    May 5, 2019
    By Suzy
  • pexels photo 919436
    Finance

    Thrifty Tips To Help Your Savings Balance

    October 17, 2019
    By Suzy
  • pexels photo 938965
    Finance

    What Is A Revocable Trust?

    September 26, 2019
    By Suzy

You may interested

  • alcohol bar drinks party
    Fashion

    Man cattle divide moveth day seas kind deep also to divided above

  • Kentucky Derby
    Fashion

    Dressing Up for the Kentucky Derby the Sustainable Way

  • snow nature bush winter
    Fashion

    Divided them form. Lights that make without.

About Green Moms Network

Greenmomsnetwork aims to help moms develop a new passion for all of the perks that comes with being a mom.

Started in March, 2012 with many dedicated readers our mom network has grown into a group of inspiring and motivational moms that write about everything from the best ways to travel with a family to which products work the best.

Whether you are a new mom or just want some great lifestyle advice – Green Moms Network is a resource for you.

Contact

  • 1819 NE 173rd St, North Miami Beach, FL 33162
  • [email protected]

Instagram

This error message is only visible to WordPress admins

Error: No feed found.

Please go to the Instagram Feed settings page to create a feed.

  • Home
  • Our Blog
  • About
  • Privacy Policy
  • Advertisers
  • Media
  • Contact Us
  • Home
  • Media
  • Privacy Policy
  • Advertisers
  • About
  • Contact Us
Green Moms Network. [email protected]