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Building insurance

There are two types of home insurance – buildings insurance and contents insurance. They both cover you against theft, fires, subsidence and other threats and they can be bought separately or together.
Buildings insurance is designed to cover the cost of rebuilding your home in the event of an accident. This kind of insurance you take against damage or destruction of the building (bricks and mortar and fixtures and fittings of your home). In case any of your home's fixtures or fittings will be badly damaged (or destroyed) you will be able to claim money back to pay for repairs or replacements.
Building insurance cover is normally provided against:
• fire and lighting strikes,
• explosions, earthquakes and subsidence,
• floods and storms,
• damage by vehicles and aircraft, even by animals,
• damage by falling branches/trees or TV aerials,
Building insurance policies normally also cover all costs of alternative accommodation during your house is being repaired. Some types of cover are subject to the property not being left unoccupied for more than a specified period. Different policies provide different levels of cover.

Contests insurance

There are two types of home insurance – buildings insurance and contents insurance. Contents insurance is usually sold alongside home insurance but it can also be purchased as a stand-alone policy, especially for those who are renting rather than owning their home.
Contents insurance covers loss or damage of re-moveable, items inside your home, which are not part of your home, basically your personal belongings. That includes a huge range of possessions, from computers, electrical and audio equipment, clothing and jewellery to furniture and domestic appliances. Some insurers describe the contest simply as “anything you would normally take with you if the property were sold”.
Cover insurance cover is normally provided against the same events and circumstances as with building insurance, which are:
• fire and lighting strikes,
• explosions, earthquakes and subsidence,
• floods and storms,
• damage by vehicles and aircraft, even by animals,
• damage by falling branches/trees or TV aerials,
There normally would be a few additions like:
• accidental damage to goods while being removed by professional removers,
• damage to freezer contests due to electricity failure,
• extended contests cover may also include possessions kept in outbuildings or in the garden area attached to the house.
Contents insurance will cover your home against loss or damage to your effects. Different policies provide different levels of cover.

Professional indemnity insurance

Professional indemnity insurance (PII) protects you for the amounts of money you may have to pay as compensation to your clients because of problems with your work. It will cover the cost of damages, or correcting your actions, or may pay the fees, that a client is no longer willing to pay you. In these days even the most respectable companies can find themselves in dispute with a client over a mistake. There are some basic areas that your business could be exposed to and professional indemnity insurance will cover:

• Negligence or breach of duty of care
• Loss of documents/data: damaged, lost or stolen data and documents belonging to your customers
• Dishonesty: liability arising from the theft of your clients’ money
• Intellectual property: unintentionally infringing on others’ copyrights, trademarks, broadcasting rights, any act of passing off

Some PI policies go further than the standard cover and provide indemnity 'for any civil liability'. This covers such areas as breach of contract, libel and slander.
Because the operative clause of a 'civil liability' policy is so wide, there is normally a long list of exclusions in order to exclude liabilities that should be covered elsewhere - otherwise things like Employers Liability (EL) and Public Liability (PL) might be covered.
Professional Indemnity Insurance (PI) is basically for business professionals who provide advice to their customers. Common industries to purchase PI include:
• Accounting and Financial Services
• Consulting
• Information Technology
• Legal (involuntary)
• Medical (involuntary)
Should the worst happen make sure that you and your business are protected financially.

Public liability insurance

Public liability insurance insures against liability legally imposed upon your business because of the negligence of the business or its employees. Basically it protects you when the business is sued for negligence, injury or loss caused by a mistake made by your company to the member of the public or damage to their property.
If your business deals with clients or members of the public, or if you are in contact with the public in the course of your business activities, Public Liability Insurance should be the top priority insurance for you.
Those with the greatest public liability risk exposure are shopping centers, pubs, clubs, theaters, sporting venues, markets, hotels and resorts. The risk increases dramatically when consumption of alcohol and sporting events are included.
Many small businesses do not secure general or professional liability insurance due to the high cost of premiums. However, in the event of a claim, costs for a legal defense or settlement can far exceed premium costs. Claims are often extremely high, sometimes hundreds of thousands pounds. This means that a business which is not covered may be in serious financial trouble if it found itself liable to pay damages or compensation from its own pocket. In some cases, the costs of a claim could be enough to shut down a small business.
Businesses must consider all potential risk exposures when deciding whether liability insurance is needed, and, if so, how much coverage is appropriate and cost-effective. It is not a legal requirement to have Public Liability insurance, most businesses are expected to have a minimum cover of £2m. Companies operating without it may find it more difficult to do business and find business partners.

Employers' Liability Compulsory Insurance
The law says most employers must have Employers' Liability Compulsory Insurance. If this applies to you, you must display the certificate where your staff can easily read it. You could be fined if you do not have a current policy!
If any of your employees are normally based in England, Scotland or Wales you must have employers’ liability insurance. As an employer, you are responsible for the health and safety of your employees. If they suffer an accident in the workplace, e.g. tripping over a printer cable, or claim any physical or mental illness brought on by work, they may claim against you for compensation. By law if businesses that have employees, must have a minimum of £5 million of cover. The Employers’ Liability (Compulsory Insurance) Act 1969 ensures that you have at least a minimum level of insurance cover against any such claims. Employers’ liability insurance will enable you to meet the cost of compensation for your employees’ injuries or illness whether they are caused on or off site. However, any injuries and illness relating to motor accidents that occur while your employees are working for you may be covered separately by your motor insurance. Often you can buy employers’ liability together with public liability insurance, as a single package.

Commercial property insurance

Commercial property insurance provides protection against most risks to property. The insured location can be owned, leased or rented. Thin kind of insurance normally covers a range of areas depending on the level of cover you take. This could include: the building and the contents of your commercial property, malicious damage, theft, loss, natural disasters, explosions, riots, and burst pipes. It can also insure the property of others in your control when the loss occurs. Property insurance can be for a specific risk. For example, a fire insurance policy insures only against a fire loss to the business location. Other examples are flood insurance or boiler insurance.
There are a number of options available with commercial property insurance, and although you may have to pay a little extra on your premiums these could prove invaluable in the future. You can select from extras such as:

• Legal Cover, which can provide legal protection as part of your commercial property insurance. Some policies may already include this,
• Personal Valuables can be covered at an extra cost, which can provide added peace of mind. This can include valuable such as computers, laptops and any especially valuable items kept in your commercial property.
• Accidental damage is not always included as standard, and is a very useful addition to your policy, as accidents do happen and can sometimes be very costly.

If you run a business from any sort of commercial property - whether it is an office, shop, site, or even if you are the landlord of a building - it is important to have the same degree of cover as you would on your own home. Damage to your commercial property could result in loss of trade and money for you, but with a good commercial property insurance policy in place you can ensure that your business is not disrupted any more than is necessary.

The important thing is that business premises should be insured for their full rebuilding cost (including professional fees and the cost of site clearance) and not just for their market value.

Car insurance

Vehicle insurance (also known as auto insurance, car insurance, or motor insurance) is insurance purchased for cars, trucks, and other vehicles. Its primary use is to provide protection against losses incurred as a result of traffic accidents and against liability that could be incurred in an accident. The road Traffic Act 1988 makes it unlawful to use a motor vehicle on a public road unless there is a policy in force in respect of third party risks. There are three main types of motor insurance: third party only, third party, fire and theft and comprehensive.
Third party only policies provide cover for: death or bodily injury to third parties, including passengers in the car, hospital charges and emergency medical treatment charges, damage to property, legal costs occurred in the defence of claim. Death, injury and damage cover is extended to include situations when the policyholder is using another vehicle and also other drivers using his car with his permission.
Third party, fire and theft – in addition to the described above provides cover against: fire, lighting or explosion damage to the vehicle and theft of the vehicle, including damage caused during theft or attempted theft.
Comprehensive – in addition to third party, fire and theft cover the comprehensive policy would include some of the following:
• loss or damage to personal belongings in the car,
• accidental damage to the car on all-risks basis,
• windscreen damage, window and sunroof glass repairs,
• vandalism cover,
• cover in the EU for the policyholder to take trips abroad,
• cover for audio/visual and/or communication equipment (permanently fitted in the vehicle) etc.
Private motor insurance market is extremely large and competitive and many different options are available for the drivers. These may include breakdown cover, legal protection services, courtesy vehicle when repairs are carried out etc.

Van insurance

Vehicle insurance (also known as auto insurance, car insurance, or motor insurance) is insurance purchased for cars, trucks, and other vehicles. Its primary use is to provide protection against losses incurred as a result of traffic accidents and against liability that could be incurred in an accident. The road Traffic Act 1988 makes it unlawful to use a motor vehicle on a public road unless there is a policy in force in respect of third party risks. There are three main types of motor insurance: third party only, third party, fire and theft and comprehensive.
Third party only policies provide cover for: death or bodily injury to third parties, including passengers in the car, hospital charges and emergency medical treatment charges, damage to property, legal costs occurred in the defence of claim. Death, injury and damage cover is extended to include situations when the policyholder is using another vehicle and also other drivers using his car with his permission.
Third party, fire and theft – in addition to the described above it provides cover against: fire, lighting or explosion damage to the vehicle and theft of the vehicle, including damage caused during theft or attempted theft.
Comprehensive – in addition to third party, fire and theft cover the comprehensive policy would include some of the following:
• loss or damage to personal belongings in the car,
• accidental damage to the car on all-risks basis,
• windscreen damage, window and sunroof glass repairs,
• vandalism cover,
• cover in the EU for the policyholder to take trips abroad,
• cover for audio/visual and/or communication equipment (permanently fitted in the vehicle) etc.
The car insurance market is large and extremely competitive. When it comes to van insurance you can find 2 types of insurance commercial van insurance and private van insurance quotes, depending on whether your van is for personal and social use, or business purposes.

Travel insurance

Travel Insurance is insurance that is intended to cover medical expenses and financial (such as money invested in nonrefundable pre-payments) and other losses incurred while traveling, either within one's own country, or internationally. Travel insurance cover is available for individual journeys or on annual basis. A typical policy might include cover against the following:
• cancellation due to illness, injury or disablement of the policyholder or a close relative,
• missed flights due to transport failure or delayed departures,
• medical expenses,
• personal accident,
• loss of personal possessions (baggage) or lost of passport,
• delayed baggage (and emergency replacement of essential items),
• overseas funeral expenses,
• personal liability and rental car damage excess,
• legal expenses.

Because of increased risk of accident or injury, cover for winter sports holidays or diving holidays is usually more expensive. In addition, often separate insurance can be purchased for specific costs such as: pre-existing medical conditions (e.g. asthma, diabetes) or travel to high risk countries (e.g. due to war or natural disasters or acts of terrorism).
Usually, the insurers cover pregnancy related expenses, if the travel occurs within the first trimester. After that, insurance coverage varies from insurer to insurer.
Travel insurance can also provide helpful services, often 24 hours a day, 7 days a week that can include concierge services and emergency travel assistance.
Typically travel insurance for the duration of a journey costs approximately 5-7% of the cost of the trip.

Pet insurance

Pet Insurance pays the veterinary costs if someone’s pet becomes ill or is injured in an accident. Some policies will also pay out when the pet dies, or if it's lost or stolen.
The purpose of pet insurance is to mitigate the risk of incurring usually large expense to treat ill or injured pets. As veterinary medicine is increasingly employing expensive medical techniques and drugs, and owners have higher expectations for their pets' health care and standard of living than previously, the market for pet insurance is increasing.
A typical policy might also include cover against the following:
• treatment at your chosen vet surgery, where your pet is familiar with the staff and surroundings ,
• advertising and reward costs to help find a lost or stolen pet ,
• travel expenses paid if your vets refers your pet to a specialist,
• boarding kennel fees covered if you have to spend some time in hospital.

Life insurance

Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's death or other event, such as terminal illness or critical illness. In return, the policy owner agrees to pay a premium at regular intervals or in lump sums. It is primarily designed to help protect immediate family members and possibly other dependents from financial hardship by providing the means to pay off the mortgage on the family home and/or by providing income to the surviving spouse to maintain their standard of living. A benefit is paid to the designated beneficiaries if an insured event occurs.
Term assurance is the basic form of life insurance – pure protection for a chosen period, with no element of investment. For that reason, it is also the cheapest form of life protection.

Other characteristic of life assurance are as follows:

• the term can be anything from a few months to let’s say 40 years or more ( usually up to retirement age),
• if the life assured (policyholder survives the term, the cover ceases and there is no return of premiums,
• there is no cash value or surrender value at any time,
• if premiums are not paid within a certain time after the due date (usually 30 days grace period)cover ceases and the policy lapses with no value,
• premiums are normally paid monthly or annually,
• premiums are normally level (the same amount each month or year,) even if the sum assured varies from year to year,
Most life insurance policies cover a fixed term, often linked to the duration of a mortgage, and therefore Life Insurance can also be known as Term Life Insurance, Mortgage Protection, Mortgage Life Insurance and Term Assurance.
If the policy is to be used solely to cover a repayment mortgage, then a decreasing term life insurance product is usually the best choice, as the amount of money the policyholder has been insured for decreases in line with the value of the outstanding mortgage balance.
A level term life insurance product is usually the best choice for an interest-only mortgage, where the value of the outstanding mortgage balance remains constant during the term of the policy. Level term life insurance can also be used to provide family protection until the children leave home, or until the surviving spouse has retired.
In case you are looking to cover a repayment mortgage AND provide additional family protection, the best option may well be to apply for two policies, one decreasing term to cover the repayment mortgage and one level term to provide the additional family protection. The second option is to apply for a level term policy on the basis that over time the policy will be increasingly geared towards the additional family protection element as the value of the outstanding mortgage loan decreases, and at the same time it will cover increases in inflation.
Most leading life insurance companies include Terminal Illness Insurance at no extra cost. In the event that the policyholder is diagnosed with a terminal illness (defined as where life expectancy is less than 12 months), then the insurer will pay the amount of sum insured on diagnosis rather than death. This benefit is not generally available during the last 12-18 months of the life insurance policy.

Critical Illness insurance

Further cover can be provided with Critical Illness Insurance, which pays out the amount of money insured should the policyholder be diagnosed with one from the range of the specified Critical Illnesses. The illness does not need to be terminal and the one main purpose of critical illness cover is to provide a lump sum to meet the additional costs that someone may face if they are diagnosed with one of the serious illnesses.
Not all companies have the same critical illnesses and conditions covered, so it is important that the policyholder is familiar with the inclusions and exclusions before any documentation is signed. Typically the policy will cover the following:
• most forms of cancer,
• heart attack,
• stroke,
• coronary artery disease requiring surgery,
• major organ transplant,
• multiple sclerosis,
• Alzheimer’s disease,
• blindness,
• coma,
• kidney failure,
• loss of limbs,
• Parkinson’s disease,
• Third degree burns,
Many policies will also provide cover for Total Permanent Disablement (TPD), which is defined by some of the insurers as total and permanent disability that prevents policyholder from doing any job to which they are suited, by virtue of status, education and experience. Other companies employ a tighter definition that requires that the disability prevents the person from doing any job at all.
Typical uses of Critical Illnesses Cover are: mortgage repayment, provision of long-term care, either in hospital or at home, alterations to living accommodation of the ill person, purchase of specialised medical equipment, and improving the quality of life of a terminally ill person.

Permanent Health Insurance = Income Protection Insurance

Permanent Health Insurance (PHI), also known as Long Term Income Protection, provides policyholders with a replacement income up to the age of retirement in the event long term sickness or disability which prevents them being able to work and earn the living. Many companies also offer Income Protection Insurance to housewives/homemakers. This is because, although they may not actually earn an income, there is a need of protection in the event of their illness. The benefit could be used to pay for the housekeeping and childminding fees, if the homemaker is unable to perform these duties due to illness or accident.
Permanent Health Insurance will pay out a guaranteed level of income every month as long as the term of the policy (potentially up to retirement age) and provided your incapacity continues. The maximum monthly benefit payable is usually 65% of a person's annual income, less any benefits that they are entitled to from their employer or the state (many employers provide some sort of short term benefit in the event of sickness, and the State provides Incapacity Benefit).
Proportionate benefit – will be paid to encourage the return to work of a policyholder recovering their health, many life offices offer to pay a reduced benefit if the policyholder takes a part time or lower-paid job after recovering their health.
A major factor in determining the premium is the occupation of a life insured. Certain occupations will be excluded from Income Protection cover on the basis that they represent too great risk. Other factors are: age, amount of benefit, current state of health, past medical history, the sex of life insured, the length of deferred period.
The payment of benefit starts after a deferred period. This is the time between a valid claim and the commencement of benefit payments. The deferred period chosen has a significant influence on the cost of a policy. Typical deferred periods are 4,13, 26, 52 and 104 weeks.
These types of policies can never be cancelled by the insurer and most will allow you to make several claims so long as the circumstances are legitimate. Depending on the premium that you're prepared to pay, the monthly payments can be index-linked to that they keep pace with inflation and the rising cost of living.

Accident, Sickness & Unemployment Insurance (ASU)

In contrast, Short Term Income Protection policies, also known as ASU (Accident, Sickness and Unemployment), plans are a type of general insurance that may be considered as an alternative to PHI.
Accident, Sickness and Unemployment policies provide replacement income usually only over a 12 or 24 month period, and are primarily concerned with short term effects of unemployment. They are typically used to cover mortgage repayments in the event that illness, accident or loss of employment prevents the policyholder from earning a living. A level of benefit equal to monthly mortgage repayments is paid for limited time only, usually a maximum of 2 years. Sometimes additional cover may be included to cover other essential expenses.
It would be more accurate to describe Accident, Sickness and Unemployment policies as Accident, Sickness and Redundancy insurance as they do not offer protection when the policyholder is sacked or resign voluntarily. The policy will often include the following restrictions:
• Policyholder must have been actively and continuously employed for a specified minimum period to effecting the plan,
• Any redundancy that the policyholder had reason to believe was pending when he took the policy out will be excluded,
• No benefit will be paid if redundancy occurs within the specified period f the cover starting date,
Accident, Sickness and Unemployment policies are annually renewable at the discretion of the insurer. This means that the insurer can increase the premium or even withdraw the cover offered. This is a major difference between ASU and Permanent Health Insurance.

Private Medical Insurance

Private Health Insurance (also know as Private Medical Insurance or PMI) is a pure protection designed to allow you to receive treatment privately avoiding delays through the NHS in securing treatment for eligible medical conditions.

Plans can be arranged on an individual basis or as a part of a group scheme established by the employer. In UK he majority of Private Health Insurance schemes are Employer- sponsored schemes. Employers who contribute to PMI on behalf of their employees are able to claim the cost as an allowable deduction against the corporation tax.
In a non –emergency situation PMI can offer the following benefits:

• avoidance of NHS waiting lists,
• choice of timing of treatment (to fit in with the work pattern),
• choice of the hospital, where the treatment will take place,
• high quality accommodation,
• choice of medical consultant.

The Private Health Insurance cover normally provides reimbursement of impatient charges, surgical and medical fees and outpatient charges. Some policies offer additional benefits such as the payment of a daily rate if treatment takes place in NHS hospital and involves an overnight stay.
Certain events will be excluded from cover under the scheme. Cover will not be provided for any pre-existing medical conditions and other general exclusions are:

• Normal pregnancy care
• Drug abuse care
• Infertility care
• GP fees
• Any medical prescriptions
• Normal dentistry
• Alcohol abuse care
• Self inflicted injuries care
• AIDS care
• Chronic long term illness such as diabetes or asthma care
• Cosmetic surgery
• Regular renal dialysis

The way in which benefits are paid varies between the providers. Some will offer a full refund of charges with charges directly to the healthcare provider. Other plans can impose a yearly upper limit on the amount that can be reclaimed. Premium rates depend on a number of factors, including: location (London more expensive than the rest of the country), type of hospital and standard of accommodation. Major factor will be a type of the scheme. Many providers offer to patients a budget scheme, which may limit the patient’s choice.

About us

Welcome to the Financial Republic Adviser Ltd. website, and thank you for your interest in our company!
Choosing an insurance or mortgage product can be difficult an stressfull as there is too many different options on the market. We promise to make the selection process easier by maintaining traditional values where clients and people come first. As a customer of Financial Republic Advisers Ltd, you'll benefit from the attention to detail, that only a dedicated team of insurance and mortgage brokers can provide. We believe in high quality customer srevice and personal touch. Whether you deal with our insurance brokers over the phone, internet or in person, we are dedicated to providing you with service of the highest quality.

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Insurance quotes, home insurance, car insurance, life insurance, motor Insurance, building insurance, contests insurance, professional indemnity insurance, public liability insurance, commercial property insurance, car insurance, van insurance, travel insurance, pet insurance, live insurance, critical illness insurance, permanent health insurance, income protection insurance, accident insurance, sickness insurance, unemployment insurance (ASU), private medical insurance.