If you’re a novice to insurance, it can be impossible to know which policies you really need, and which ones are a waste of precious time and money. That’s why we’ve put together this list of the 4 policies that are essential, helping you to separate the wheat from the chaff.
- Life Insurance
If you have other people who are relying on you, otherwise known as dependants, then you really need to consider life insurance. Life insurance is a policy which helps you to provide for the people you care about if anything should happen to you. If you’re in a position where your children, parents, etc. would be in financial hardship if you die, then life insurance is a must.
It is also an investment that will help you reach your goals even after you’re gone. It can be used for your children’s education, to purchase a home where they can live or even as a capital for their very own business. Life insurance not only provides security but also savings. Most Life Insurance Companies can offer riders or independent health insurance that can prepare and protect you against the rising costs of health expenses.
- House Insurance
House insurance, homeowner insurance or renter insurance are essentially the same thing. They’re all designed to make sure you can recoup the losses you are endowed with following significant damage to your property. If you are ever in the unfortunate position where you need to replace your home, a house insurance policy could be your saviour. Another reason for you to apply for a house insurance is that it can protect not only your homes but also some of the contents inside it. Not to mention that you will have an added peace of mind when you are travelling away from home.
- Automobile Insurance
A significant proportion of the adult population drives in the UK, and this means that car insurance, sometimes known as automobile insurance, should be a must. There are large number of crashes and accidents on the roads each day, and with the UK’s ever-changing weather, there’s always the potential to be in a damaging crash. Replacing your car could be an expensive deal, so a comprehensive car insurance policy could really minimise the cash amount you have to pay out.
- Disability Insurance
Disability insurance is similar to a health insurance policy, but in the UK, health insurance is rather unnecessary. Instead, you might want to consider a disability insurance policy because if you’re ever out of work for longer than your contracted sick pay, you won’t be paid a wage. With a disability policy, however, you’ll receive your full wage paid at the regular level for as long as you’re out of work.
With all of these policies, the key is signing up quickly. Hopefully, you’ll never have to use any of them, but the kind of event which warrants placing a claim on an insurance policy is a serious one, so sign up for your policies today. If you’re unsure of where to begin, there are plenty of sites online for insurance providers. Take home insurance, for example. You simply need to go to a site like Click4Quote, and find a suitable policy. Begin your search today.
***Photo thanks to bestfinancenetwork.com and Flikr***