Four Triggers for a Review of Cover
- By Wayne Lennan
- •
- 11 Dec, 2018
- •
Do you need to review your cover?
How regularly do you review your insurance needs to ensure you have the right amount of cover for your situation?
Let's consider home and contents insurance. When you move into your first home and purchase affordable furnishings. Then over time as you settle in, your situation changes and you may purchase new furnishings, a bigger TV or accumulate a number of other items. You will most likely review your home and contents insurance to feel more secure so that if you were burgled, you would be adequately protected.
You should value your livelihood in the same way when you get your first job, find a partner and maybe get married or have kids. Some people may get divorced and become single again. The reality is, our lives change and regularly reviewing your insurance needs to ensure you have the right amount of cover for your situation.
Here are some triggers for you to consider;
Take the opportunity over the holiday period to review your insurance policies to make sure you and your family are protected.
Let's consider home and contents insurance. When you move into your first home and purchase affordable furnishings. Then over time as you settle in, your situation changes and you may purchase new furnishings, a bigger TV or accumulate a number of other items. You will most likely review your home and contents insurance to feel more secure so that if you were burgled, you would be adequately protected.
You should value your livelihood in the same way when you get your first job, find a partner and maybe get married or have kids. Some people may get divorced and become single again. The reality is, our lives change and regularly reviewing your insurance needs to ensure you have the right amount of cover for your situation.
Here are some triggers for you to consider;
- Change in income - Your income may have increased and your cover may no longer be adequate.
- Lifestyle changes - You may have been previously a smoker and if you haven't smoked for over 12 months you could save money on premiums.
- Improved health conditions - If your health has changed significantly, for example if you have lost weight, you may be able to save money on premiums.
- Family situation - Has your situation changed and perhaps you have gotten married or divorced.
Take the opportunity over the holiday period to review your insurance policies to make sure you and your family are protected.