Insurance protects you against risk
Every day, you and your family are exposed to risks that could cause you to suffer financially. These include:
- The risk of dying and the financial impact this will have on your surviving family.
- The risk of losing your car or home due to loss or damage from accidents, fire or theft.
- The risk of having an accident or serious illness that could stop you from being able to earn a living.
- The risk of not being able to pay off your debt if something happens to you.
Having insurance will help you to deal with these risks without putting a strain on your finances. That’s because when you buy insurance, you transfer the cost of a potential loss to the insurer in exchange for a fee, known as the premium. Insurers then invest this money in order to pay you out if you have a claim.
It pays to shop around!
Make sure you get at least three quotes from different insurers before you buy any type of insurance policy. Getting quotes before you buy can help you get a better deal!
Paying your premiums regularly
It is important to make regular monthly payments on your policy to continue enjoying cover. Not paying your premiums when they are due may result in your policy cancelling which will result in you loosing cover, peace of mind and all the money you have already paid.
I can no longer afford my policy, can I cancel it!
It is tempting to cancel insurance policies when we are under pressure financially. Rather consider restructuring your policy by changing to a cheaper cover until your situation improves instead of cancelling the policy. You just never know the unfortunate event will happen, the reason why you always need to be protected