Personal Touch Financial Services

General Insurance

General insurance covers events that may or may not happen, such as accident, fire or theft, as opposed to life assurance, which covers an event that will definitely happen sooner or later, such as retirement or death.

The aim of taking out any insurance policy is to compensate you following a loss so that you are, in general, as well off - but no better off - than you were before the loss occurred.

An insurance policy is a legal contract and your rights as the holder of the policy will depend entirely on what is written in the contract and on any endorsements which may be added to it.

You MUST have insurance whenever the law requires you to have it and you SHOULD have insurance if an event could happen to you that would create a loss that you could not afford; for example, if a tile fell from your house and injured someone who then claimed thousands of £s for their lost earnings or if your house burnt down and you were faced with rebuilding costs.

In some cases, the State provides insurance by, for example, paying incapacity benefit if you are unable to work due to illness. You may also find that your employer provides certain health insurance cover, such as income protection insurance or private medical insurance.

However, it is highly unlikely that any third party will provide for your general insurance requirements. Arranging insurance cover for your home, your car, your pet and your holiday is going to be up to you.