An insurance policy can come in many shapes and forms, and you can take it out for any of the following scenarios:
- Your car
- Your home
- Household goods & personal belongings
- Warranty on appliances
- Life, critical illness and disability
- Income (salary) protection
- Your pet
That’s a lot of scenarios, and each has a different type of insurance attached! No wonder it can get confusing trying to decipher what you’re actually covered for. To help make it easier to understand, let’s take a look at the most important aspects you need to consider when you start shopping for insurance.
To start, it goes without saying you should always get comparative quotes, which you can do so easily on a number of comparative websites. Read through each option carefully though, and make sure you understand:
- What level of cover you’re being offered (is it basic or comprehensive?)
- What your excess is in the event you need to claim
- If there’s a waiting period, and if so how long it is
- What your monthly premium is, and how much does it go up if you make a claim
Bear in mind, the cheapest insurance policy option isn’t necessarily the best, as it could mean you only have partial cover and your excess could be very high. With this in mind, take the time to read through the documents with a fine tooth comb, so you can be satisfied the features that are important to you are included. And if you’re still unsure, don’t be shy to ask a consultant to give you a call and run you through the different options available. This way, when you’re ready to make a decision, you’re confident you’re making the right one.