Short term insurance is the insurance you take out on your assets such as your car, your house and your household contents. Businesses also require cover for stock-in-trade, plant and machinery etc. Despite the current proliferation of "direct" insurers who make much fanfare about "cutting out the middle-man", an advisor experienced in short-term insurance can offer you a valuable and personalized service. Not only are they in a position to "shop the market" in terms of rates and service, but they often have more clout with the insurers when it comes to claims.
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Wikipedia Definition:
"Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed small loss to prevent a large, possibly devastating loss. An insurer is a company selling the insurance; an insured is the person or entity buying the insurance. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice."
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