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Almost a third of new mortgages do not have life insurance associated with them, new research from Defaqto has revealed. The financial research company has highlighted the risk of taking on debts such as mortgages without having sufficient protection in place should something happen to the borrower, leaving their family to repay the debt. The report points to figures from the Association of British Insurers from 2009 which show that 363,973 new mortgage-related life insurance policies were written, whereas the Council of Mortgage Lenders recorded a comparatively high 925,000 new mortgage advances for the same period. Read more…

Arlington, Virginia and Windsor, Connecticut, August 30, 2010 — Despite the fact that most American families have less to fall back on financially than when the economic downturn began , ownership of individual life insurance has hit a 50-year low, according to a new LIMRA study.
Four in 10 U.S. Households with Children Would Have Immediate Trouble Paying Bills if the Primary Breadwinner Died Today
The Trends in Life Insurance Ownership study, conducted every six years by LIMRA, found that only 44 percent of U.S. h Read more…

avantia Insurance has launched a new homeprotect service after the viability of such a move was proved by its pilot project which provided instant online cover to non-standard buyers of home insurance.

Brokers and other providers have been invited by avantia to join the platform, with the aim of providing a one-stop shop and saving both time and costs.

Since last year homeprotect has been trialled mostly online to non-standard customers, who comprise around 15% of the UK population.

The term is a broad one, and covers everyone from those at risk of flood or subsidence to former offenders and those with an extensive claims history.

The pilot saw 97% of people provided with instant online quotes, with the remaining 3% dealt with manually by individual members of staff.

Chief Executive David Walker explained that a cost-effective underwriting service could be provided by intelligent use of IT, dealing effectively with a so-called difficult consumer group.

M&S home insurance is urging households heading away on holiday this summer not to leave their empty homes vulnerable to opportunistic thieves. Of the 69 per cent of Brits who will have spent at least one night away from home in August, 51 per cent will be leaving the house empty, without anyone to keep an eye on things while they are away, M&S home insurance has found. These homes could be potential targets for thieves who take advantage of the summer holidays when people are away from their homes, and 24 per cent of people going away this month said they would not ask anyone to check on their property while it is empty. Read more…

Canada is a great place to travel in, but the best way to do so is with Canadian travel insurance. Having Canadian travel insurance will give you peace of mind as you discover great things about the French-speaking country. Canada is fast becoming a vacation destination – with it strong economy and welcoming environment, you will certainly warm up to Canadians real fast. Now that we have all but gotten over the recession, so do not be left out and start planning your Canadian vacation.

Canada is not only a stopover, but it is slowly becoming a destination thanks to the high standard of living and penchant for attracting a good number of foreign visitors. Read more…

Some drivers who pay their car insurance by direct debit could end up paying more than they bargained for because not all car insurance providers are clear about the costs of paying monthly. Car insurance providers should clarify the cost of paying by direct debit, according to financial research company Defaqto, which has released a report addressing the challenges currently facing the car insurance sector. Monthly instalments offers motorists a way of budgeting for their car insurance more easily, instead of having to pay the entire premium in one go; some insurers do not charge extra for this, but others do, with an average added cost of between eight and 11 per cent on top of the original premium. Read more…