When you insure your car comprehensively, its agreed value is set at the beginning of each period of cover. It is based on the fair value given then for your car’s make and model in the motor trade’s most commonly accepted price handbook (the Glass’s Guide). The value doesn’t change for the period of cover.

This depends on the circumstances and the percentage of use the child has of the car. This varies between companies but depending on the percentage of use will determine if the insurer wishes to increase the premium. A higher excess will always apply if the child has an at fault accident, again this varies, you must check on the schedule or in the policy wording or ask your broker.

An excess is a contribution you are required to pay towards a claim you make on your insurance policy. An insurer may have many types of excesses that can apply in different situations, the higher the excess the less premium you pay. Some of the different types of excesses are standard excess, imposed excess, voluntary excess, or age & inexperience excess.

It is a advisable to insure your house for the full replacement value including the cost of clearing the site if it were a total loss, architects fees for redrawing plans and cost of accommodation while you home is being rebuilt. A common method is to multiply the total square footage of available living space in your home times a factor which represents today's cost to construct a "like kind and quality" home, normally expressed in dollars per square foot.

There are several risks involved in running any business, including putting your own finances at risk.  Insurance is a smart way to reduce uncertainties and have peace of mind to be able to concentrate on business development, rather than worrying about all that could go wrong. Working out what insurance you need when starting out or even later is important and depends upon the nature of the risks that are inherent to your kind of business.