Why Insurance is Important – Policies You Should Have

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It is important to have home insurance in case of disasters such as a flood, earthquake or cyclone or even against the threat of losing your home in a fire.  You should also have the contents of your home insured, which will cover things like your furniture and appliances like your Bosch dishwasher.  You should also have car insurance, life insurance and income protection insurance.


Home and Contents Insurance

It is very important if you own your own home that you have home insurance.  If something was to happen, such as losing your home in a fire or because of a natural disaster then your home insurance will cover the cost of the damage. If you were to lose your home you could find it impossible to replace your home if you weren’t covered, and the awful things is you would still have to keep on paying your mortgage even though you no longer have a house to live in.  You would most likely never recover financially.  Contents insurance is also important because it would cost a lot to replace all the items that you have in your home.  Imagine losing everything because of a fire or natural disaster, or even losing your valuables because you are broken in to.  If you don’t have contents insurance it is possible that you might not be able to replace them without insurance.  It is not worth the risk to not be insured.


Car Insurance

You would be crazy to not have car insurance.  You are much more likely to be involved in a car accident than you are to suffer from a house fire or other natural disaster.  You will find that when owning a car it is important to have the correct insurance to cover it.  Your car insurance will not only cover you against any accidents that you might have but it will also cover you against any damage that you might do to another person’s car or property.  Even if your car isn’t worth much the problem is any damage that you could potentially cause to another person’s more expensive car as well as any damage you could do to property, which could end up being millions of dollars worth of damage.


Life Insurance

If you have a family that you are supporting financially then you should consider taking out life insurance.  Some companies are a lot easier to obtain life insurance than others and don’t require you to take a blood test.  Shop around to find the best insurance to suit you and your budget.   It helps give you piece of mind that if something was to happen to you and you were to die due to injury or illness then your family would receive financial help.

Income Insurance

Another good insurance to have is income insurance.  If you are unable to work due to illness or injury you will receive payments to help you survive financially until you are able to get back to work.  It is a good insurance to have if your family has only one income.

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