Laptops on Planes…

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Today’s post is from Richard Hiscox of Onestop Insurance. Whilst technology makes online comparison of most things fairly easy, when it comes to insurance I am a great believer in people with experience, who have real-life experience of claims, which is the only real test of whether your insurance is value for money or not . Richard has been my insurance broker for over 20 years and I am delighted that he has agreed to share some of his thoughts here. Just to be crytal clear, as with all posts within the blog, there is no financial exchange.

Laptops on Planes

You will no doubt have heard about certain flights into the UK and USA banning things like laptops from hand luggage, insisting that they are carried in hold luggage instead. So where do you stand with regards to insurance of these items?

Whilst I cannot speak for all insurers the following will normally be true. You may want to check it out before you travel with your travel providers just to be clear though. Your options are:-

Rely on the airline to cover your goods.
Trust your travel insurance policy to deliver.
Cover items under your home insurance policy.

Airlines usually settle claims for lost or damaged baggage based on the weight of the baggage NOT the true value of the contents. If you rely on this method to be reimbursed you could be seriously out of pocket so this is not the choice we would suggest.

Travel Insurance

Laptops are normally classified as “valuables” and as such under a travel insurance policy therefore afforded quite limited cover, especially when placed in the hold of an aircraft. Normally valuables are not covered within the hold of an aircraft and if lost or damaged would have to be part of a claim against the airline who in turn could limit the amount they pay out as already stated.

Home Insurance

This is normally the best way to insure high value items such as laptops when travelling by aircraft. The items should be covered as “all risks” or “personal possessions” but precise details of this cover need to be checked to ensure any claims will be problem free. Either speak to your insurers or give Richard a call at 1 Stop Insurance.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk

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Experience of a Lifetime

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Experience of a lifetime

Well, here we are in December. The world remains in a state of anxiety about a plethora of challenges and even here in Britain, many are suffering from the weather conditions which make for a difficult Christmas.

Christmas reminds me of many things, the nagging feeling that Christmas seems to have arrived quickly and that time is moving along all too rapidly. Whilst many are struggling simply to find shelter this Christmas, much like the central characters in the nativity story, I am reminded how harsh life can be for many people and how quickly circumstances can change. 2015 has certainly had more than its share of crisis and disaster.

Whilst our media and deep mid-Winter are full of bleakness, I remain thankful that I live in the relative safety of Britain, despite all our problems. Yet I am also reminded that life is indeed short and there are still many places that I’d like to see and things I wish to “witness”. Apart from the usual trappings, the Christmas break is also an opportunity to reflect on the coming year, for many this will include planning your next holiday, perhaps one from your bucket list?

Trip of a Lifetime

One of my clients runs a boutique travel business and it occurred to me that there are a number of similarities in what we do. There are certainly lots of questions about where you want to go and importantly an independent mindset that is able to put together suitable great experience. What I had not appreciated was that it actually costs the same amount whether you use the expertise or not. I have certainly used the web to book holidays in the past, spending hours, trawling through endless options, but simply had not appreciated that someone else could do this for me, an expert, and it wouldn’t cost any more!

Mercator Travel have several brands which they use to focus their expertise on specific regions of the world. For example, south or central America is currently a great destination for those seeking something memorable and rather different. If you are anything like me, I have forgotten what I gave and received last Christmas, yet I never forget holiday experiences.

As a boutique business, they place great emphasis on creating a wonderful experience and getting all the little details right. Apart from ensuring that your trip is planned perfectly, the business is built around providing a top drawer service, with the aim, like every good business of creating a great reputation and clients that return. So if you are considering a great trip in 2016 may I suggest that you check out a couple of their websites.

Just in case you think there’s something in it for me – there isn’t. I am interested in helping all of our clients, profiling those that run small independent businesses and of course those wishing to get more from life with a lot less hassle. Do give them a call on 01932 424252.

Postcards from the Edge…

Financial planning isn’t meant to be dull, its about your life and helping you to figure out what you want from it. This is often difficult for most people to verbalise, there’s something within our British-ness that makes most of us reluctant to express this. How you spend and give your money is one of our freedoms and invariably for the vast majority there is often an unspoken connection of shared experiences and a sense of purpose just beneath the surface. There is little point in building up wealth if you don’t get to use it.

One of my peers shared an idea with me that he finds works well with his clients. He asks them to send him a postcard from wherever they have been. He displays these in a book in his reception. The idea being that there is a huge variety of clients and the places they visit yet all share the freedom to enjoy some of the money that they have worked hard to save. He gets lots saying “enjoying spending the inheritance… pension” or whatever. The point being that financial planning when done well brings the freedom to make empowered financial decisions – many of them are a lot of fun. So perhaps I will ask you to do this in 2016 as well.

Dominic Thomas
Solomons IFA