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Why is insurance important hero v2

Why is insurance important?

Insurance is about protection. It’s about planning for the unexpected, and although it doesn’t often feel like a priority, it can make a huge difference in times of loss or damage.

The events that you’ll want to get insurance for:

  • The sudden loss of household income
  • Property or vehicle loss from fire, theft or damage 
  • Serious illness or an accident, leaving a breadwinner unable to work 
  • Death of a breadwinner
  • Risk of overwhelming debt without being able to pay

Benefits of having insurance:

  • Insurance protects you and your family from financial difficulty
  • It reduces financial stress and allows you to focus on recovering from loss instead of worrying about finances
  • Peace of mind that you’re covered financially in case something happens

Insurance tips:

  • Always get multiple insurance quotes until you’re happy with the terms you’ve got
  • An average policy usually only covers the basics. Ensure that your policy has everything you need to suit your lifestyle
  • Pay your premiums every month to ensure that there are no problems when the time comes to claim
  • Know what to do if you are struggling to afford your premiums. Many products offer a restructured policy option for times like this
  • You are never too young to take out life insurance