Personal Insurance Services

The only type of personal insurance that is required by law is car insurance, at a minimum level of ‘third-party, fire and theft’. People often assume there are other types of mandatory insurance, such as mortgage insurance when you buy a house, but this is in fact just a condition that many banks and building societies insist upon before agreeing on a mortgage deal with you – it is not required by law.

Most types of personal insurance are designed to protect you from the unexpected and bring with them a sense of personal security and financial wellbeing. Unexpected events can put a significant financial strain on individuals, which is why so many people choose to invest in a variety of personal insurance policies that will protect them and deliver peace of mind.

One of the biggest dangers in taking out insurance in recent times has been the proliferation of price-comparison websites and online policy signup procedures. Many people don’t realise that they’re not getting the cover they really need, as their policy could be full of get-out clauses, exclusions and additional unnecessary cover that isn’t even required.

One of the biggest problems when signing up for an insurance policy in this manner is that it is ‘unadvised insurance’ – meaning that the impetus for the understanding of each policy, checking the small print and ultimately agreeing to the deal, rests with the policyholder themselves. With many people motivated by getting the cheapest deal rather than the right deal, it can quite often be a case of ‘if it seems too good to be true, it probably is’.

Even at the best of times, finding personal insurance coverage can be time-consuming and overwhelming; it's important to consider several points before progressing:

• Needs: What types of risks need to be covered, such as health, life, motor or home insurance? Have you thought about every eventuality?
• Limits: How much coverage is required? Are these limits enough to protect your assets? Do you understand the limits that your policy states and are you happy with them?
• Premiums: We can all be seduced by the most affordable deal, particularly when money is tight and times are tough. But it’s better to pay more for a deal that pays out when you need it to than waste money on one that never will.
• Exclusions: Have you taken the time to understand the exclusions of each policy, so there are no nasty shocks if something unexpected does happen? If something does happen, believing you have cover and finding out you don’t can be a devastating experience – both financially and emotionally.

With so many potential exclusions, conditions and pitfalls in self-secured, unadvised insurance, an insurance broker like KGJ can really take the sting out of securing an ideal range of personal insurance policies. With our advised insurance, you can walk away with peace of mind and financial security, knowing that if anything does happen, KGJ will be there for you throughout your entire policy – not just at the beginning. The KGJ experts are only ever a phone call away and are ready to advise you on any current or future policies you may require.

Policies usually last a year, but they can also last anywhere from a few minutes to a lifetime. At KGJ, we specialise in providing appropriate and effective insurance for the risks you face. Annual policy renewals are a good system for allowing any changes in circumstance to be considered before renewing a policy for another year, ensuring your cover is always appropriate, up to date, and not full of unnecessary extras that are no longer required.

The kind of personal insurance you need depends on your unique circumstances and requirements. It's generally recommended to have health insurance or life insurance to cover any medical expenses, in addition to car insurance to protect your vehicle. Indeed, motor insurance is a legal requirement in the UK. Homeowners should also consider homeowner's insurance for property protection.

Other types of insurance, such as umbrella insurance, may also be worth considering based on your specific needs and circumstances. It's important to speak with an independent financial advisor like the experts at KGJ, to determine the right insurance coverage for you. We work hard with each client to provide fully advised cover truly tailored to each individual.

The cost of personal insurance varies widely depending on the type of coverage, the insurance company and individual factors such as age, health status and driving record. For example, the cost of car insurance premiums can range from a few hundred pounds to thousands per year, depending on the make and model of your vehicle, your driving history and the type of cover you take out.

To get an accurate estimate of the cost of personal insurance for your specific needs and circumstances, it's best to speak with one of the dedicated personal insurance specialists at KGJ, who can help you understand the different cost and coverage options available to you.

Yes, you can generally change or cancel your personal insurance policies. However, the process and rules for making changes or cancellations can vary depending on the type of insurance in question and the insurance company providing the policy.

To make changes, you typically need to contact your insurance company. A professional agent like KGJ can also do this on your behalf. At KGJ, we can guide you through the process and provide you with information on any associated fees or requirements. If you want to cancel your insurance policy, you usually need to submit a written request. The cancellation process may involve a waiting period or penalties, depending on the terms of your policy.