Alcohol-related Holiday Insurance Claims get Rejected

Holiday Insurance

If you were to question somebody about whether or not they drank or drank excessively on holiday, providing they are legal to do so, you would be safe to assume their answer would most likely be a yes – after all they are on holiday.

What they may not be able to answer though, is if they know whether or not their insurance cover is affected should they injure themselves when intoxicated. According to a spokesman from One Sure Insurance, we got told, “This might not be a situation to cross the minds of many when they are perhaps enjoying themselves to excess on their travels, but recent reports from the Financial Ombudsman Service or FOS, which settles disagreements with consumers and insurers, have revealed that some insurers are rejecting customer claims because of alcohol-related exclusion clauses.”

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When Should You Opt For A Refinancing Solution?

The process of replacing an existing loan with a new loan is what refinancing is all about. It allows you to shift your debts to a ‘better place’. Following are some situations where refinancing can help your case.

Pay Off A Loan Or Consolidate Multiple Loans

With a balloon loan, then you would have to pay off the remaining amount in full by a certain due date. This can lead to a large lump-sum, for which you may not have the funds available to you.

Here, the option of refinancing can pay off the original loan and produce a new loan in its place that has a longer duration of repayment.

Similarly, if you have multiple loans then it can be a hassle keeping track of payment dates and remaining loan amounts. Here, refinancing makes for a sensible option to consolidate all these loans into one umbrella loan, especially if the interest rates for the refinancing loan is lower.

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