Protecting what’s yours

Getting insurance cover to protect your assets is one of the most important things you can do. But there’s a myriad of factors that go into choosing the right policy and it can be difficult to get your head around all the options.

Technology is a great enabler and can certainly be used to support you in your decision making. But having some options outlined for you is not the same as getting personalised advice.

When it comes to insurance it’s wise to remember that you’re not always comparing apples with apples. Different policies have different terms and conditions, and different excesses.

It may seem quite straight forward to buy a house and then just insure it. But we know from the Christchurch earthquakes that many people were underinsured and some people did not have the right cover.

The insurance industry underwent a significant change after the Christchurch earthquakes and we saw a shift from square metres specified on home policies to a ‘sum insured’ figure - the total you will be paid out by the insurer if something happens.

Your home is one of your biggest assets so determining the right amount to insure it for should not be left to a price calculator alone. If I went online and used three different calculators, I’d probably get three different sum insured outcomes.

If you’re a landlord and own a rental property there’s additional risk associated with that too. Residential landlords can be held liable for a range of things including accidents tenants have as well as methamphetamine contamination.

An insurance broker can help you by giving you guidance and support when it comes to making an informed decision about the best types of policies to protect your assets from the things you can’t control.

As brokers, we’re selling a claim response - meaning our ultimate goal is to get you back on your feet if you suffer a loss. Everyone wants to have the peace of mind that their personal assets are protected if a fire, flood, earthquake, theft, burglary or accident occurs.

When it comes to getting your insurances sorted, something that meets someone else’s needs may not necessarily meet yours, so make sure your personal circumstances are taken into account.

To find out more about protecting your assets, come and talk to one of the local Rothbury team.