There are many different types of short-term insurance available to cover you for various aspects of your personal life. However, the various insurance offerings can often be confusing. In this article we answer some commonly asked short-term insurance questions, looking specifically at insurance for your car, home and funeral, as well as travel and legal insurance.
What is short-term insurance?
Short-term insurance provides cover against loss, damage and liabilities, and is taken for a short period, often from year to year. You would pay a premium, either monthly or annually, to your insurance company who in return provides the cover to compensate you when you suffer a loss on insured items. Car Insurance If I’m over the legal alcohol limit and involved in an accident, will my insurer cover me?
No, they won’t. It’s illegal to drive under the influence of alcohol. Therefore, if you’re in an accident due to alcohol impairment, your insurer is not obliged to pay you for any damage to your vehicle or if you are injured in any way. You should never drive drunk - rather take a taxi or travel with a designated sober driver.
Home Insurance
Am I comprehensively covered for household insurance?
This depends on the details of the short-term insurance policy you’ve taken out. If you often leave the house with expensive items such as laptops or cell phones, you should mention this when you apply. That way, your insurance will cover you should these items be lost or stolen while you’re out and about.
Funeral Insurance
Does funeral insurance cover me for anything besides the actual funeral?
Again, this depends on the specific policy you have. Most comprehensive funeral policies offer added benefits such as paying for a vehicle at the time of the event, which can be very useful. Some funeral policies also provide for your family’s immediate expenses following the funeral, such as groceries or school fees. So, having the most comprehensive short-term insurance policy you can afford will provide great peace of mind when your family needs it most.
Travel Insurance
What if I have a medical emergency while I am away?
Most travel insurance policies include medical assistance in some shape or form should you become ill or have an accident while travelling. Many policies include access to a free helpline for emergencies, and they’ll also usually provide medical support and repatriation if necessary. Always check the policy details when applying for travel insurance to make sure you’re covered.
Legal Insurance
Do I need legal insurance in a personal capacity?
Getting legal assistance or advice can be very costly, but there are many circumstances where you may need it. Some examples include if you are unfairly dismissed from work or if you find a structural defect in your new house. So, if you think there’s a chance this may happen, legal insurance can be very useful in covering you financially for any legal help you need.
These are just some of the questions you may have about various types of short-term insurance. Looking to find out more? Read more about Hollard’s short-term insurance products including car, home, funeral, travel and legal insurance or find a broker today.
