To a lot of people, insurance is an annoying expense, a waste of money on something they might never use but they’re forced to spend hours, days even, getting quotes for and having to buy. To others, it’s a valuable expense each year because it gives them the piece of mind that everything is covered in the even of a disaster.
To a complete novice who has never had to buy insurance before, instead leaving it to their parents or partner to sort out, you might think that it’s as simple as “car insurance is compulsory” and that’s it, there are no other forms and it’s expensive! Well my friend, this is your chance to be educated in the various forms of insurance cover available to you and all that you hold so dearly!
Home insurance does exactly what it says on the tin, it protects pretty much everything under your roof. Each policy can be tailored according to your budget and how substantial you want your cover to be, and will cover you against events such as fire, water damage, vandalism or theft. It’s worth checking with your chosen insurer, either in the paperwork or on their website as to just what is covered, as some will not cover for events such as flooding.
This kind of insurance policy is compulsory for anyone wanting to drive or ride on the roads. There are three different levels of coverage that come with different costs, more information on each can be found on insurancetown.com – third party which covers you for damage caused to the other vehicle if it is your fault; third party fire and theft which does the same but covers your own car if it catches fire, is stolen or crashed into by another driver; and fully comprehensive which covers you against all damage caused by either yourself or the other road user.
This type of insurance is one that makes a lot of people anxious and understandably so. Life insurance is designed to ensure that your dependents – your immediate family – are given financial protection in the event of your death. You might be the major money earner in your family and everyone depends on your wage to keep the household ticking over. If you die, they would be given a financial payout by the insurer that will help them to cope with the bills should the worst ever happen.
This is one method of showing your trusted pets just how much you care for them. Animals, like humans, are at risk of picking up illnesses and injuries and many treatments are costly. Pet insurance can help to cover the cost of vets bills, as well as helping to cover any costs associated with putting your dog into a kennel or cat into a cattery if you are personally unable to look after them – such as being taken into hospital.
Contents insurance is designed to cover your personal possessions against theft, damage or loss. Usually, this refers to items such as electrical goods – your television, microwave, computer, etc – furniture, or clothing.
Insurance is always going to be the kind of thing that infuriates many people. It’s easy to see why, especially if you’ve never had to make a claim – you spend thousands each year covering yourself, your family, your home, your possessions, your pets and then when you get the renewal you think “I haven’t made a claim, I don’t need this.” You can almost guarantee, however, that the one time you opt against insurance, something will happen so even if it’s just the most basic level of coverage, insurance should be an essential annual expenditure.