A recent report by the insurer Axa warned that fewer than 50% of small firms do not have a plan in place to ensure that their business could survive should they be hit by an emergency or disaster. Axa highlighted that many businesses, especially in the South East, are not covered against environmental risks such as fire and flood Cheap Phillip Lindsay Jersey , and fewer have any protection against the now high profile terrorism threats.

Following a claim, such as for a fire, or flooding, most household insurance policies will cover the cost of alternative accommodation, if the property is uninhabitable; likewise, many companies have business interruption cover Cheap Joe Flacco Jersey , which will pay the cost of alternative accommodation, however this is not always guaranteed and you need to carefully check the policy wording.

Even if you do have insurance, you need to ensure that it is suitable for your needs. Wherever you obtain your insurance, whether it is from a direct insurer such as Norwich Union, brokers like Endsleigh, or through comparison sites such as Moneynet Cheap John Elway Jersey , it is vitally important to check all your coverage details. Many people in Boscastle believed that they were completely protected, only to discover after the floods that they had become victims to under-insurance. If the level of cover obtained is not adequate, then insurers may only pay a proportion of a claim, taking the view that you have been under-paying on premiums. Several residents in Boscastle faced insurance shortfalls of up to 50 per cent.

Thankfully in the Boscastle flooding, despite fears from the emergency services, there was no loss of life; however as the fire fighters union fears following the London bombings Cheap Dre'Mont Jones Jersey , exclusion clauses placed into life insurance policies could mean that many individuals do not currently have any cover for certain unpredictable emergency events which are out of their control.

The upshot appears to be that the current situation is one of caveat emptor, or "let the buyer beware". A situation that is likely to get worse with global warming causing increased extreme weather conditions, and rising terrorism threats. At the end of the day, for consumers to ensure they have the correct financial protection, they must actually read all the official cover documents, check the details Cheap Drew Lock Jersey , and examine all the clauses, when they take out any financial product, if they are not to find themselves out of pocket when a claim needs to be made.

Useful Resources:

Association of British Insurers

Insurance comparisons ? Moneynet

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