How to choose an Insurance Policy: find the policy that suits you best
Category: General Insurance
The best way of choosing an insurance policy that’s right for you is to clarify your goals and take a realistic look at your risks. An experienced insurance broker will help you understand your exposure to risk and help you understand how to choose an insurance policy that will best meet your requirements.
Insurance is an effective way to protect yourself against loss or damage to your property and to guard against a potential loss of income. It can also allow you to meet unexpected expenses, including medical fees.
Different people are exposed to different levels of risk, and consequently their insurance needs are different. There are a number of things to keep in mind when choosing an insurance policy.
Insuring against the inevitable
Some events are inevitable and universal. Funeral insurance and life cover will assure you that, in the event of your death, your beneficiaries will be provided for. When thinking about how to choose an insurance policy, remember that funeral cover provides the cash needed to pay for the funeral of the insured, and for related expenses.
Life insurance policies will pay a significant sum of money to the beneficiaries of the insured person, greatly alleviating the potential financial burden that can accompany the death of a loved one.
Choosing the right life or funeral insurance policy will depend on the number of beneficiaries and the amount of cover you wish to provide. Some policies also allow you to extend cover to members of your family. Knowing how to choose an insurance policy is not always easy, so it’s worth speaking to your broker about getting maximum coverage at the best price.
Choosing a flexible policy, with a variety of options, will help you get precisely the right policy for your specific needs. For example, people who drive relatively short distances might benefit by choosing a Pay-As-You-Drive car insurance policy. Those who drive more extensively, or use their vehicles in the course of their work, will get more out of a motor insurance policy with a different benefits structure.
Choosing the right insurance is as much about choosing insurers with the appropriate level of expertise. This is especially important with regard to niche items, like artworks and collectables. In such instances, it is crucial that those administering the policy understand the unique value of these items, and how their valuation differs from everyday goods.
Hollard are providers of flexible insurance policies in South Africa. Through our carefully selected insurance brokers, Hollard is able to customise the right insurance policy for each person’s needs. Our flexible offering also allows you to buy any of these products direct.