Categories
Health Insurance

What are star ratings and what do they mean for your medical insurance?

Many insurance products are independently rated, but what really is the difference between a four-star and a five-star policy?

For private medical and personal health insurance, ratings range from one to five. They aim to make it easier for customers to choose a product based on the features offered and not just the price.

What are insurance star ratings?

The star rating is not a reflection of customer satisfaction or necessarily a perception of the insurance product’s quality.

The star rating is based on the key features and benefits of the product. Star ratings also take into account any optional add-ons and extras offered with each policy.

A one-star rated product will be more basic than that with five stars.

Who provides star ratings of insurance products?

There are several independent insurance rating companies around the world. One of the most common is Defaqto.

Defaqto is an independent research company focussing on financial products.

They have worked with The Association of Medical Insurance Intermediaries to determine each health and medical insurance category.

What does each star rating mean for medical insurance?

A lower star rating does not necessarily mean that an insurance product is inferior to one with a higher star rating.

Each person will have different requirements from a medical insurance policy. It may be that a lower star rating suits your needs just fine. With insurance, you need to ensure you have just the right cover level for your own circumstances. More features than you need, and you will simply pay too much. Few features than you need, and you be at risk if something goes wrong determines health insurance cost.

However, you should remember that medical insurance is a complex product. You will benefit from seeking expert advice before choosing a healthcare insurance policy.

Defaqto assesses some 30 to 100 factors to determine a star rating, depending on the particular product.

There are several core criteria that a health insurance product must feature to receive a five-star rating. The core criteria include cancer care, inpatient and outpatient services.

Star ratings make it easy to compare products at a glance. However, if you need advice or are unsure of the features of any medical insurance policy, contact our friendly experts today

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Categories
Car Insurance

4 key things you need to know about car insurance

When it comes to cheap car insurance companies, there are any number of myths and misconceptions that you’ve likely heard, and so it can be difficult to know what is fact and what is a fallacy.

So, with that in mind, here are 4 things you need to know about car insurance to ensure you are able to get the best deal possible.

1. There are a number of factors that will determine insurance prices

As well as judging the quality of your vehicle, its age, how often you use it and your driving history, there are a number of other factors that will determine how much you pay. These include things such as your age and marital status, the area in which you live, your credit history, and potentially even your gender (although this is not always the case).

2. There are options available if you want to pay less

When it comes to car insurance, you always have the option to pay a little less, although this will often come at the expense of what is covered. However, some companies have schemes in place that will offer discounts to careful drivers, or for those that travel infrequently, so seek these out before making a decision on your insurance.

3. If you drive your personal car for business, you need to purchase the right insurance

It is absolutely worth highlighting that nearly all policies will actively exclude the option to drive a personal car for a business purpose (pizza delivery or messenger service, for example). In fact, some companies will even cancel a policy should it be discovered that a driver is doing this. If you are doing this then there are insurance options available, but you need to be open and honest upfront.

4. Insurance is for the car, not the driver (in most cases)

The general rule of thumb is that insurance is for the vehicle, not for the driver of the vehicle. Therefore, if a friend or family member drives your car and has an accident, generally you will be able to claim on the insurance. However, it is well worth checking this, because rules change from company to company.

To find the best commercial car insurance deal for you, get in touch with us today and we’ll help you compare the offers available.

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Categories
Health Insurance

Top 3 factors which affect the cost of health insurance

There are various types of insurance you can take out in the UAE to stay safe from what life throws at you. One of the most important is health insurance. This type of short term medical insurance covers you against illness and helps pay for any treatment you might need. There are lots of companies around the UAE that offer health insurance and most will quote a different price for your monthly premium. This is because there are various critical factors that affect how much your cover will cost.

But what are the top 3 to know about?

Level of cover

For any type of health or medical insurance, the level of cover you require is vital. This is because the more cover you wish to be insured for, the greater the costs any insurance company could face if you fall ill. More comprehensive cover for example might see the insurance company pay for hospital treatment plus outpatient care or physiotherapy. It is only common sense therefore that this sort of policy costs more to take out than more basic packages.

Age

Although this might not sound fair, to begin with, you will usually pay more for your health insurance as you grow older. This does make perfect sense when you consider it more though. The simple truth is people tend to need more medical care as they age. This means that the insurance company will normally incur more costs from an older person, compared to a younger one. These increased costs are then reflected in the amount older people have to pay for cover.

Location and smoker status

As well as age, a few other personal details usually come into play. Your smoker status is certainly one and will have an impact on how much any policy costs. This is purely down to the health risks smoking brings and the chances of smokers needing more medical care than non-smokers.

Although you might not think it, where you live is also key. If you live somewhere with clinics/hospitals close by for treatment, the financial cost of getting you there is lower. This naturally sees your premium come down compared to someone who lives far away from the closest hospital.

Get the best UAE health insurance quotes with Compare Insurance

Of course, the other major factor which influences health insurance costs in the UAE is who you take it out with. All medical health insurance companies will have different deals and this makes finding the best value one crucial. Rather than spending hours trawling the internet to do this, let Compare Insurance help instead. We bring together the best UAE health insurance quotes in one handy place. Browse our website or contact us today for more details.

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Categories
Travel Insurance

Ready for your trip? Three insurance questions to consider before you travel

Before you travel abroad, it is absolutely essential to ensure that everything you need has been packed. However, something that can too often be overlooked is that it is also essential to have one way travel insurance in place prior to travel, as not only does it provide additional peace of mind, but it can potentially save you an incredible amount of money should you find yourself injured. Research has found that an injury abroad can cost as much as £230,000 (1.16 million AED), so the financial impact can be severe.

In order to ensure your travel insurance is as robust as possible and is as comprehensive as you require, it is vital you ask the following three questions:

1. Are previous/current medical conditions covered?

For many people, this is the most important question to ask. Most travel insurance companies will offer very cheap deals, but often such offers will come at the expense of covering pre-existing conditions. Such medical conditions can be small or major, but it makes sense you ensure you are fully covered, even if you feel as though it is unlikely your injury will be exacerbated.

2. Am I covered if I participate in extreme sports?

Some travel insurers are very open about the fact that they will not cover individuals should they actively participate in activities with a high risk factor, so if you plan on going skydiving, make sure you ask this question first to see where you stand.

3. Does my travel insurance give me access to a physician on the phone?

This is a question that is absolutely worth asking, even if it’s not something you’ve previously considered. In some instances, it will be the case that you will not actually require a trip to a hospital if you feel a twinge or a little under the weather. In these cases, it may actually be more beneficial to have a conversation with a doctor or physician. It may well be the case that access to a hotline of some kind is included with your insurance policy, but it is certainly worth asking the question ahead of time.

Have other questions or queries about your policy bazaar travel insurance? Get in touch today and we’ll do our best to provide the answers you need.

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Categories
Travel Insurance

The different types of travel insurance, explained

Shopping for overseas travel insurance can often seem like a minefield, with many people deciding they won’t purchase it – either because they don’t think it’s necessary, they’ve never had to use it before, or they think the process is too complicated. Nowadays, with insurance comparison sites and quick application processes, it’s easier and more affordable than ever. There are a few different types of travel insurance policies out there, so make sure you get the right one for you.

Single Trip Travel Insurance

If you’re heading to one destination for a set amount of time, then this is the type of cover you would get. Single trip travel insurance is the most basic of policies and can cover you for a variety of different events, up to a certain level of expense, depending on what you want to be covered.

Annual Multi-Trip Travel Insurance

If you travel on a regular basis, for business or leisure, then it makes the most sense to buy an annual multi-trip policy. It’s more cost-effective and less time consuming than having to buy single trip travel insurance every time you go away. It’ll cover multiple destinations over the course of the year and can either cover European, Worldwide or Worldwide, excluding the USA, Canada and the Caribbean.

Winter Sports Travel Insurance

If you’re going on a skiing holiday or heading somewhere where you’re going to take part in a winter sports activity, then you’ll need winter sports travel insurance. These types of activities are considered riskier than those included in other policies, as there are unique situations you could find yourself in, such as avalanche delays, piste closures or serious injury.

Backpacker Travel Insurance

A backpacker policy covers you if you’re heading away for a longer period of time and jumping around between destinations. It’ll often cover you for a wider range of activities too, such as skiing and white-water rafting.

Family Travel Insurance

A family travel insurance policy covers up to two adults and eight children of the same family, provided the children are under 18 years old. This is a more cost-effective and easier option than buying separate policies, and you can purchase a single or annual trip cover.

Cruise Travel Insurance

Just like winter sports coverage, cruise travel insurance covers you for unique situations you can find yourself in with a cruise holiday. You’ll often be visiting multiple countries for an extended period of time and can experience things such as missed port departures and itinerary changes.

Over 65’s Travel Insurance

Those over the age of 65 are usually more likely to need urgent medical attention while they’re away, so the over 65’s travel insurance policy often covers extra expenses – occasionally allowing a companion to be added to the policy.

Whatever type of visa travel insurance policy you purchase, be sure to declare any pre-existing medical conditions when applying. This will often increase the price of your policy. However, it is a small price to pay for peace of mind and an appropriate level of cover.

To find the best travel insurance for your trip, head to Compare Insurance today.

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Categories
Car Insurance

Top tips to find the cheapest car insurance

Car insurance is a significant financial cost each year, however legally you cannot drive a car without holding the required insurance. Although, it is possible to compare quotes to ensure you benefit from the cheapest price for the cover you need.

How much will my car insurance cost?

There are many factors that determine the cost of your car policy, from the type of vehicle you drive and your age to your previous driving history. There are many car insurance providers operating in the UAE, with every company calculating the risk of your cover differently. The cost of your car insurance is personal to you, so it is always worth comparing insurers to find the best deal for your specific requirements.

Do not automatically renew your car insurance

Although it may seem easy to accept the automatic renewal quote from your current car insurance provider, you should never accept the price without comparing other alternatives. The price may end up being the best deal available, however, you will never know unless you compare other providers quotes.

In many cases, when you choose to accept the auto-renewal you end up paying an additional amount for the convenience of this. Over the years, this amount can significantly add up and you could save hundreds by comparing and switching to the cheapest deal every year.

Pay for your insurance annually

When you find the best deal, you will be given the option to pay via monthly instalments or with a single monthly payment. Although monthly payments can be beneficial if you are unable to cover the full cost upfront, you will pay additional interest for the privilege.

Consider multi-car insurance for your household

If your household owns more than one car, you may be able to secure a cheaper quote by insuring every car under a single policy. There are some insurers that will allow you to combine multiple car insurance policies, which is likely to work out cheaper than separate covers.

Increase your excess

If you are willing to pay more of an excess charge in the event of a claim, you may be able to secure lower premiums. However, it is important to ensure that you are able to cover the required excess charge.

Compare car insurance quotes today!

We specialise in helping our customers compare auto insurance quickly and easily. To find out more about securing the best car insurance deals, please contact our team today.

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Categories
Health Insurance

How to prepare your health insurance for starting a family

Starting a family is a busy time with lots of things to prepare and your health insurance should be one of them. Here are some key things to consider before you start your next chapter:

Are you on the best type of insurance?

Health insurance for parents is a legal requirement in Dubai, whether you are a full-time resident or only working in the city temporarily. As a result, you must either be covered through your employer or your own plan. If you and your partner are both offered healthcare insurance by your employer, then you may want to stick with your existing work policies. However, if one or both of you aren’t covered through work and you organise your own health insurance, you may want to consider taking out a joint or family policy. This could save you money compared to multiple individual policies and gives you the convenience of having everything in one place.

Health insurance for your children

Protecting your children against illness or accidents is essential for keeping them safe, so check if your children are covered by your work health insurance policy. If not, and you and your partner are content with your existing cover, then you may want to start looking into separate children’s health insurance so you are prepared. Alternatively, you could choose to take out a new family health insurance policy, which would cover every member of the family in one.

Does your current policy offer maternity benefits?

If you are planning on trying to conceive in the near future, it is a good idea to check whether your current health insurance covers issues relating to pregnancy. Not every insurer will cover the same thing and some conditions related to pregnancy could be very costly for you if they aren’t covered. If you aren’t satisfied with what your current insurer offers, investigate alternative options before you become pregnant, if possible. Some insurance companies will be reluctant to accept new policies from women who are already pregnant.

If you want to check that you’ve got the best health insurance broker for you and your growing family, why not do some research and compare the available policies on our website?

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Categories
Travel Insurance

Tips for finding the best travel insurance deals

If you’re going on holiday abroad, you need travel insurance. Many people put off purchasing travel insurance because they think it is expensive and that they are unlikely to use it. However, travel insurance is an essential part of any foreign holiday – you shouldn’t leave home without it!

To help you find some better deals, here are some of our tips on getting cheap travel insurance.

Use comparison websites

Comparison websites, like our own, will help you find the best deals out there. You’ll be able to compare different deals and find the most suitable company for you.

Decide on the cover that you need before looking

Make sure that you write down exactly what you want your insurance to cover and look at all of these aspects in detail. For example, cover for an electronic item might have a big excess, so it may not actually cover your phone. If you have a really good idea of what cover you will need, it will make looking at our price comparison website much easier!

Think about eliminating some activities

You may be tempted to purchase cover for certain ‘risky’ activities. These could include SCUBA diving, skydiving, or mountain biking. Carefully look at what sports are included in this insurance bracket, and think about if you will really be doing them. If the answer is probably not, then you could eliminate them from your insurance package and get a cheaper deal. However, if you are not covered for them, this means that you will not get any medical help if you change your mind and decide to do any adventure sports.

Consider what you are already insured for

Your valuables may already be insured under home or contents insurance, or the home and contents insurance of someone that you live with. Make sure that you have a good understanding of what is already covered before you decide to buy.

If you are savvy and only insure what you need, you will be able to get a much cheaper seniors travel insurance! If you’re going on holiday, you need insurance, but it doesn’t have to cost a fortune.

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Categories
Travel Insurance

What are the most common travel insurance claims?

Travel insurance is an essential pre-trip investment for any traveller. Travel insurance can help you pay for unexpected things that happen that would otherwise leave you largely out of pocket. But what are the most common travel insurance claims? Let’s take a look in this article!

The most common claims are for the following:

1) Flight delays

2) Cancellations of flights or accommodation

3) Medical costs

4) Lost or stolen baggage

A whopping 93% of travel insurance claims are for one of the above. Let’s explore in a little more detail…

Trip cancellation and delays

The most common reason for claiming on aib travel insurance tends to be trip cancellation or abandonment, with around 40% of claims being related to this.

Trip cancellation could come from the customer’s end or the supplier’s end – for example, if an airline goes bankrupt, they would subsequently cancel their customers’ trips.

However, trip abandonment could refer to when someone is unable to make a trip. This could be for a variety of reasons, including personal illness or illness of a relative, bereavement, moving jobs, or personal financial issues.

Illness or injury

Illness is the next most common claim, and many people consider this to be the most important thing to be insured for. This is because falling ill overseas, or having a bad injury, can result in bills of up to a million Dirhams or more.

And claiming for illness and injury is fairly common, although generally medical bills are less expensive. Still, having travel insurance for medical reasons is essential for peace of mind.

Lost or stolen baggage

Lost or stolen baggage is another common travel insurance claim. These are sometimes contested, especially if the baggage was not reported missing in time or left unattended.

There is also usually an excess, and some people find that the contents of their baggage are worth less than the excess, therefore they may not bother claiming.

There are many other things that you can claim on insurance for, but these are the main ones. As discussed, it’s important to have travel insurance not just so your holiday is covered if you need to cancel or if your airline or accommodation cancels, but so you are covered if you get ill overseas. Click here to find the right schengen visa insurance for you.

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Categories
Travel Insurance

Travel checklist: things to do before going on a trip

Are you planning a trip abroad at some point in the future? We bet that you’ll want a holiday somewhere soon! If that’s the case, make sure that you refer to this travel checklist for some useful tips of things to remember.

Pack appropriately for the destination

Of course, everyone packs their case before a trip, but try to do some research into the destination that you’re visiting and make sure that your case is full of appropriate attire and gear for the destination! For example, if you are going trekking in the jungle, you will want to make sure that you have mosquito spray. or if you’re going backpacking get backpacker travel insurance But if you are visiting the UK, you should pack an umbrella!

Pay all bills that you need to before going away

Nobody wants to have to negotiate an unpaid bill while on holiday. Ensure that any outstanding bills are already paid before you get on the plane and try to pay some in advance if possible. Make a detailed list of when your electricity, gas, water and internet bills are due, so you don’t forget any.

Turn all plugs in your house off

Make sure that you turn off anything that you can before going on holidays, such as plugs and lights. You will obviously need to keep some things, like your refrigerator, plugged in, but everything else should be turned off completely and not just left on standby. This will help you save some money on your insurance policy.

Keep updated with current affairs at your destination

This has become more important since COVID began, but it’s always a good idea to keep updated with current affairs before travelling somewhere because they can affect your entry requirements. In the lead up to your trip, check for any incidents of note or any border changes. If you do see anything worrying, contact your airline.

Make sure that you have insurance

Every time you go travelling abroad, you should have travel insurance. You can compare travel insurance plans and find the best one for you here.

If you’re looking for a travel insurance policy that works for you, get in touch with our team at Compare Insurance today.

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