FINANCIAL
INSURANCE
AVOIDING DISAPPOINTMENT By Mark Salter, Fort Financial Planning The summer of 2021 has certainly been eventful for all sorts of different reasons and as I write this article the news is still full of uncertainty such as overseas travel, tax rises and volatility in the stock market. However, I want to focus on something else; it’s something that’s also very uncertain but definitely more enjoyable, sport. We’ve had so much to enjoy watching this summer with sport back to its best with Wimbledon, the Euros, test matches, and the Olympics. And in just the last week, British tennis has a new rising star as teenager Emma Raducanu has beaten all the odds to make it through to the final of the US Open. A few months ago she was studying for her A-Levels and she is now one step away from being a world champion. It doesn’t really matter which sport you enjoy watching, they all have the same goal – to win!
As viewers we only see the final stage whether it’s a race or a match. Perhaps what we don’t think of as much is the amount of time, dedication and planning that has taken place to enable that person or team to achieve their goal. Professional sportspeople and athletes don’t just sit at home and put their feet up expecting it all to come together on the day. With the help of experts such as coaches, fitness coaches, nutritionists and psychologists, they formulate a plan and stick to that plan. The plan may have to be adjusted to reflect unexpected events but ultimately the goal will always remain in sight. Financial planning and investing is no different. Saving for next year’s holiday is very different to saving for your retirement in 10 or 20 years’ time. You need to set yourself goals and then once you have specific goals in mind you can
formulate a plan to achieve them. With all the sacrifices and hard work that Emma Raducanu has put in, she wanted to be competing with the best tennis players in the world and ultimately become a champion, but what are your personal goals? Would you like to retire early, help your children financially or perhaps own a holiday home in the sun? The problem is that many people have no real goal and therefore no plan. They pay into a pension or ISA and are disappointed with the outcome because they have unrealistic expectations. The simple reason why they have unrealistic expectations is because they had no expectations in the first place, and therefore any result will be disappointing (i.e. no goals and no plan will ultimately lead to disappointment).
So when you’re watching the next big sporting event, you might start thinking about some of your own personal financial goals. To achieve greatness you need a goal, and you need a plan, and you need to stick to that plan. At Fort Financial Planning we are the experts that can help you build a financial plan for your future and coach you through the uncertainties and unexpected events to ensure you achieve your goals.
ALWAYS READ THE SMALL PRINT!
By Catherine Holloway
18
Holloway Insurance Services is using its thirty years’ experience to share tips on how to make sure that you are fully covered when you choose your insurance schedule. This will reduce the chance of you facing the horror of trying to make a claim and then finding your loss isn’t covered under your policy.
price. This month we discuss common omissions, for example, clauses that you may not notice that could prevent a payout. With all policy prices being on an upwards trend, it is possible that the cover you did have may have been trimmed to reduce the price so you must check every bit of wording.
The current insurance market is hard; insurers have less appetite for risk. This means that at renewal you may find the terms you enjoyed before are no longer available for you. Last month we discussed the paperwork and systems that help to make your business more attractive for insurers to want to insure at a good
Check that every part of your business is covered. Read any small print that may say ‘excludes’. For example, a retailer or manufacturer may find ‘excludes oversea export’ or indeed that certain industries that you may currently service have now been excluded in the updated policy e.g. excludes ‘aviation
industry’. Check your policy doesn’t exclude ‘abuse cover’ if you are a care provider. Check also if you are a ground Expect more more fromfrom youryour broker our ofs broker - expect ourfull fullspectrum spectrum of worker that you covered toExpect INSURANCE &- expect RISK MANAGEMENT You can rest easy with our regular co FOR BUSINESS newsletters, articles, action plans work on main roads or ifRiskyou Compliance keep you up to date on the latest leg Management as your you company grows. are a tree surgeon that you We don’t believe in finding We aren’t just here to help you when cheap business insurance, claim, all our clients have access to F are not excluded from working resources that will imp we believe in finding youmanagement the best and reduce risk within your compan over a certain height. Company Needs
business insurance andor working sector of business you are in. 30 years’ experience and a with you to ensure thatWith youover are Gauntlet Group we offer an unrivall supported at all stages. to market. We have access to more o
Insurance providers are less insurers than most of our competito inclined to cover for floods Communication to a more competitive quote for you www.hollowayinsurance.co.uk Proud so don’t presume you are Insurance Proud to tobe beinsuring insuringand andsus local localbusinesses businesse Guidance info@hollowayinsurance.co.uk covered. A good broker will Telephone: 206588 or 07341 663783 Telephone: 0146001460 206588 or 07341 663783 01460 206588 work with you to ensure that deanholloway@gauntletgroup.com info@hollowayinsurance.co.uk your property is fully covered covered, e.g. missing fire but they won’t know what you suppression systems! own, unless you tell them. Next month we will discuss We offer premises visits to the main types of business help clarify what you need to insurance so you can make an cover, e.g. fixtures and fittings, informed decision on what you and spot any practice that do and don’t need to pay for. could prevent you from being
