There are several different types of personal insurance, covering you against all likely (or unlikely) occurrences. Here is a guide to what each of the main types of personal insurance means.
This covers your property against damage. This normally includes fire, flood and subsidence damage, temporary accommodation / housing, and the cost of replacing broken or lost keys. Outside buildings such as garages, greenhouses and sheds are often also covered.
Fixed items such as baths, toilets, sinks, pipes and drains are also covered by the majority of policies.
Some policies have options to include accidental damage cover, and to raise the excess (Initial amount you need to pay in the event of a claim) to reduce the policy cost.
This covers the contents of your home against damage or loss due to fire, lightning, flooding, theft or break-in. Accidental damage is sometimes included, although it is usually an optional extra.
Contents Insurance is often sold together with Buildings Insurance, or as a single Home Insurance policy.
Remember that if you have a home office, it is not covered by your standard buildings/contents insurance, and a special policy will need to be bought.
This covers you in the event that you die (or sometimes if diagnosed with a terminal illness) within the policy term. If you die, a lump sum is paid out to your family.
This covers you for private treatment in the event of an illness or the need for an operation. Optional areas of cover include home nursing, some specialist consultations, and 'out-patient' treatment such as physiotherapy.
This covers you against legal costs in the event of you being involved in a court case. This usually includes (amongst other areas) cover against contract disputes, personal injury claims, employment disputes, and jury service.
When you join a Family Legal Protection policy, many insurers will also then allow you access to free legal help and advice.
This covers your pet for vet bills, as well as purchase cost in the event of death. It is available widely for cats and dogs, and less frequently for other animals. The policies do not cover routine check-ups, but will cover illness or injury to your pet. If you are taken ill, many policies will cover the cost of Kennel or Cattery fees to look after your pet.
Some policies also provide liability cover (mainly for dogs), so if your pet causes injury to another person, your costs will be covered if they are awarded compensation.
This covers you against (among other areas) personal injury, loss of baggage or money, legal costs, and cancellation costs if you are forced to cancel the holiday. Many policies also provide personal liability cover.
Travel insurance is available on both a 'per trip' and annual basis.
The most basic form of cover, this will cover you for injuries and damage to third party (someone else's) property. It also provides some protection for legal expenses.
3rd Party (Fire and Theft)
This is an optional extra to 3rd Party insurance, and gives you extra cover against theft, attempted theft, fire and (in most cases) lightning, explosion and taking without consent.
Comprehensive
This provides cover against all of the above occurrences, as well as cover for flooding, storms, vandalism, malicious damage or accidental damage.
Many comprehensive policies also provide death of injury cover for the 'regular' driver and their spouse.
Remember, if you use a private vehicle for business use, it will not be covered under standard car insurance, and you will need to find a business car insurance quote.
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