Your Home and Possessions

Good value or cheap? We all like to save money, that is never in dispute. If somebody
ever asks me how much I want to spend on a motorcar, piece of furniture or a new television, I always respond by saying “nothing thanks”. Of course I never expect to walk away from any shop with this kind of response, but it hopefully indicates to the salesperson I am not in any hurry to throw my hard earned cash in any random direction and if they make a sale they will also have earned the right to take my money.

An insurance policy is unlike most other products in as much as, it is not a tangible item. Putting it bluntly, it is a piece of paper, a drop of ink and a promise. It is not until you have to use the policy that you discover the quality of the plan that you purchased maybe, last year, perhaps some years ago and you have never reviewed the cover it offers. At this stage you will, at best, be in doubt as to whether your particular incident will be covered.
Any money you have saved on the yearly renewal will be insignificant compared to the loss that you may have to bear should you discover the worst and you are not in fact protected.

Comparison sites concentrate mainly on price and offer little in the way of indicating the value or quality of an insurance policy. For example, does the illustration issued,

  • Offer FULL accidental damage cover or does it offer just a partial accidental protection?
  • Does it include any charge for paying monthly?
  • Is the cover on a new for old basis or indemnity cover?
  • What is the level of cover offered?
  • If you have selected monthly payments is this a finance contract? if so, this will have an affect on your credit file.

This is just the start of some of the considerations you should be thinking of when insuring your most valuable assets, the roof above your head and your personal possessions.

For more information or you wish to discuss further please contact:

Tel Number: 01708 640855

Email: Bestadvice@Lfmhavering.co.uk

Twitter: @LifestyleFinMan

Authorised and regulated by the Financial Conduct Authority