Insurance

'Insurance' is basically an agreement in which you pay a company money and they pay your costs if the event you are insured against happens, for example, you die, suffer a critical illness or your property is stolen.

Everything can be covered
Nowadays Insurance is available for almost everything - from your home and health to your pet and possessions.  Insurance will never be able to replace the loss of a family heirloom or cure a critical illness, but it can ensure that you do not suffer financially should something unexpected happen.

Do I really need Insurance?
Your mortgage lender may stipulate that you have some form of Insurance in place, for example Buildings and Contents.  However, on most occassions the decision whether or not to take out Insurance is entirely up to you.

Things to know
Before buying Insurance, there are 3 important things to know;

• If you make a claim, are you liable to pay any of this yourself?
• Are there any restrictions or exclusions in the policy which apply to you or your family?
• Contact details if you have an Insurance query or claim?

Get Advice
Depending on the type and term of policy you are considering, it may be worthwhile seeking professional advice from a Financial Advisor.  This advice is often free and can provide the information you need to make the right choice.