If you are still wondering whether it is essential for you to take out Travel Insurance while on a holiday abroad- then you need to stop pondering over it and take out one immediately if you have planned a trip this holiday. The reason is the fact that almost 42 million bags were lost by airlines at the UK airports in 2007 alone.

The situation has worsened over the last few years as air travel increased around the world. Though most of the bags were returned to the rightful owner, a considerable 1.2 million were never found. Though airlines have provisions for compensation for lost baggage but most of the times it is very difficult to prove what exactly your bag contained. The need for travel insurance has therefore increased as people are not left in the cold in an unknown place. Travel insurance is no longer a luxury. However, most holiday makers are cutting costs by not taking out travel insurance when on a holiday abroad. It is a necessity especially in times of recession as you have to spend more if you encounter problems abroad.

If you are looking to buy a new van and wondering at the same time how to cut insurance cost, then as a Van Insurance customers can opt for the latest offering from Ford, the new Fiesta Van priced at £9,025 and capable of 67.3 mpg. The new Ford offering not only qualifies for fuel economy norms but also for 1E and 2E light commercial vehicle insurance.

Steve Kimber, spokesperson of the company said that the vehicle already accounts for 25% of sales in the market. He also says that the model was an essential part of the Ford Fiesta business plan and its superior quality shows just that. The Fiesta Van, the Trend and Sportvan are the three models of the vehicle you can choose from.

The NFU Mutual urged house owners to keep checking regularly with their insurers that all their possessions are covered within their policy. Chief executive of NFU Mutual, Lindsay Sinclair said that this is essential especially for people living in the rural areas as things like lawnmowers, chain saws and rotavators are additional items of their homes and should be included in the Home Insurance policy.

Many people make a mistake by not including items kept in their gardens and garages as contents of their homes in their insurance policy. The research carried out by NFU Mutual reveals a disturbing fact only half the people surveyed reviewed their home contents level in the last year. The research also revealed that 74% were only convinced that the contents cover was sufficient to cover the total value of their belongings.

Pet insurance not only helps you to cover the vet bills and medical expenses of your pet but also supports you in case your pet goes missing. According to Saga, the Pet Insurance provider, nearly one third pet owners have lost their favourite dog or cat and more than one out of ten have not been able to get back their missing pet.

Saga chief executive Andrew Goodsell said that it is extremely sad and heartbreaking for an owner to lose a pet and unable to trace him or her. In such cases generating awareness and informing the local people about the missing pet becomes very crucial. Most owners advertise the loss of their missing pet in leaflets or with an advert in the newspaper.

Advertising can be expensive as in most cases you need to do it for more than once. Saga therefore advises people to opt for a pet insurance that covers advertisement costs as well. Saga’s pet insurance cover offers £1,000 for advertisement costs.

A recent research by World First reveals that almost 80 per cent pf the Brits do not take a Travel Insurance especially when they are going for domestic holidays. Domestic holiday traffic is expected to increase sharply by almost 30 per cent this summer according to Continental Research statistics.

World First advises travellers to at least opt for cancellation cover because in the UK one can face severe losses if the holiday is cancelled. Most hotels in the UK charge two thirds of the holiday cost if the holiday is cancelled. Most holiday and camping parks charge a full 100 per cent in case of cancellation.

Martin Rothwell, managing partner, World First Travel Insurance suggests consumers to take travel insurance no matter wherever they are travelling. However, a significant number of people do not take enough insurance cover if they are travelling within the country. At a time when people are spending judiciously, protection becomes all the more important. There could major cost implication even on a domestic holiday which many travellers fail to realize.

Come 11 March, No Smoking Day and if you pledge to give up smoking on that day you would be rewarded by cheaper Life Insurance premiums, says Asda Life. Not only will health of people improve if they quit smoking but they can also find premiums of insurance cover for critical illness drop by almost 50% explains Asda Life.

However, the company added that a person would only be considered a non-smoker after a year has passed and the age of the person would also be taken into consideration while calculating the premium.

Senior policy adviser Matt Morris of Asda Life asked people to ensure that they have a new policy in hand before rejecting the old one as you can be in for surprises if your health has changed. No Smoking Day is being observed in the UK since 1983 but this time there are more reasons to quit smoking than previous years.

To make ends meet in time of credit crunch, this year most Britons have decided to cut back on Pet Insurance, according to a latest research. Liverpool Victoria, insurance provider has discovered that about million customers are planning to sacrifice pet insurance cover in such difficult times.

One in five animal lovers and pet owners has decided to do away with pet insurance cover in an attempt to negate the effect of credit crunch. In this way most consumers believe that they would be able to save £10.41 per month. However, not only is pet insurance being sacrificed, but other insurances like travel insurances are also being done away with.

Almost 22% respondents to the survey by Liverpool spoke of cutting costs by sacrificing various insurance cover. Managing director of general insurance at Liverpool, John O’Roarke advised consumers to think twice before cutting on insurance policies.

Special home insurance deals have been announced by Sainsbury which comes as a big relief in such tough times. The special deal has been named “30-30-30″ as it offers 25% discount on purchase and an additional 5% off if you buy the policy cover over the internet.

The customer will also receive shopping vouchers worth £30 when the policy comes into effect and the same amount is given if it is renewed after a year. Neil Laird, Sainsbury’s Home Insurance manager advises customers to compare home insurance policies as the each policy offered by different companies varies a lot.

Though insurance premiums are on the rise if you shop around a bit you are sure to get a good deal for your house. Experts also advise that a quality cover need to be very expensive as most consumers feel. Direct Line has warned that home contents worth billions of pounds could be uncovered. According a latest study by Direct Line, British women use goods worth £22 billion which are used only for special occasions but most of these items are not covered.

Credit crunch and financial crisis has prompted Brits to change their holiday trends and Travel Insurance habits as well. EssentialTravel reveals that in today’s changed scenario, Brits are more concerned about redundancy cover and therefore more and more people are opting for single-trip holiday insurance than a multiple one.

According to EssentialTravel more than 60% of the people made email and telephone queries since last November on the conditions of being covered in case they lose their jobs. There has been a 70% increase of last minute bookings by travellers with single-trip insurance, a trend described by EssentialTravel as “short-termism”.

Stuart Benson of EssentialTravel states that traveller are waiting for last minute attractive deals for holidays as one can expect to get good bargains online. While in recent years people were generally making two long-term holidays and a few short terms in between, with the current financial trend, people are mostly opting for ‘short-termism’.

According to a survey published by AA Personal Loans many UK customers are taking loans to purchase second hand cars rather than opting for brand new ones in order to save money. The survey results show that almost 62% individuals are more likely to use their loans for buying a second-hand car than it was in March 2008.

Though customers are trying hard to save money in recession times, yet the total amount spend on car purchases is much the same which means people are buying more trendy models. Head of AA Personal Loans, Mark Huggins explained that second hand dealers are offering higher value cars at lower prices to make a sale along with savings of a third on certain car models.

He also states that this is the best time to spend on your dream car. However, this trend doesn’t offer good news to car manufacturers who are trying hard to sell new cars. Job cuts have already been announced by BMW at New Mini plant in Oxford.