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Insurance Advice

We all have insurance in some shape or form. I have contents insurance on my flat, and home insurance too. I am considering getting pet insurance should I get a cat in the near future, so that I am not hit with a sudden huge cost. But there are many elements of cover that most people are not knowledgeable about. We offer out some insurance advice for those that struggle knowing what to get.

Insurance Advice – Life Insurance

This is the great unknown for many people, me included. We recently wrote on the topic here. But on the assumption that you think you should have it, this is what we advise. Work out your annual income, multiply by at least 5, and that is what you need for life insurance cover. Get more if you have certain circumstances or needs that may require greater funds should you die. 

Insurance Is For Truly Expensive Costs

And not for the little ones. The point of insurance for me is to cover huge costs that could wipe you out financially if you had to pay out of your own pocket. You may never need your insurance on a range of things, but it gives you peace of mind. Just ensure that you fully read terms and conditions before signing up so that you do not fall foul of a technicality and lose a pay out.

Insurance Advice – Many Important Insurance Policies

Your home being the obvious one. No one who is sensible would risk losing all their possessions without being insured so that they can be replaced. Away from that, car insurance is also essential, and not an option! You must have it. There are other types that you may wish to consider. Pet insurance, building insurance, and of course when you travel abroad, insurance is a must. You may see critical illness insurance as worthwhile, or even insurance for your mobile phone. They are expensive to replace, after all, and your mobile provider will not cover many occurrences, such as breakages or water damage.

An Example – Home Contents Insurance

It is a good idea to take out home contents insurance to cover your assets and treasured items against fire, theft and other risks. These risks could include accidental damage. If something happens to destroy or damage your possessions, it can cost a lot of money to replace the items, some of which may be essential.

Insurance Advice – Problems With Claims

It is hardly a secret that many insurance companies will try to avoid pay offs for insurance claims, especially big ones. This is why it is essential when you take out any insurance policy you understand fully the terms and conditions. You must comprehend exactly what you are covered for and what you are not. You should source a policy that is tailored around you. That covers you for the likely things you may one day claim for, And should you have to claim, ensure you are thorough and put in an accurate and well-crafted claim that leaves no leeway for the insurance company to wriggle out of paying you.

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