We have now passed the halfway mark of the year, and are solidly in the middle of winter, as we head into spring and summer many people do a ‘spring clean’ of their houses and live, getting them ready for the next six months. This could easily be applied to your finances and especially your insurance, having a dedicated time in the year to go over your plans, premiums and protection is essential – especially if anything has changed in your private or professional lives.
A lot can change in six months in our personal lives, you may have brought a house, started a family or even witnessed someone go through something traumatic that’s made you think about your own circumstances.
If you have purchased your first home and made those first steps to starting your family then it is always essential that you are able to protect your assets in case of the unthinkable. For example Income and Mortgage protection are two popular insurance options that can protect your home in the event that you loose a steady income for a period of time. These types of insurance make sure that your mortgage payments are met, and can also cover your income while you get back on your feet.
There is also the obvious heath and medical insurances that can cover all different types of medical expenses for you and your family, from basic GP visits to live saving medical procedures so that the financial burden is taken care of, so you can focus on recovery. It can also help cover when the things we don’t want to think about happen – permanent disability, terminal illness or an unexpected death can have major financial repercussions for you and your family, having something behind the scenes to remove some of this burden is always a welcomed lifeline.
Weather you are starting a new business, expanding on an old business or just doing some minor upgrades to equipment, it is essentially that you have the right insurance to cover you, your business and your employees in case of the unthinkable.
It can be simple things from theft of equipment to the potential loss of a location due to a natural disaster or fire that having insurance can cover you. From the smaller scale, stock damage and theft insurance can help replace those core instruments of your trade in the event of theft or repairable damage, so you can get on with the job at hand. Property insurance can help you find a temporary location and help cover the costs or a rebuild in the event of a natural disaster or fire damaging your premises. Loss of revenue can also protect your company’s income and your employee’s wages in the event of a disaster or major disruption to your business.
These are only a few examples of insurance types on offer, with an ever changing landscape in both of our lives, its easier than ever to make sure our insurance is covering the right aspects of our lives and tailor-made to how we operate. Its always essential that we keep checking what we have and adding on or altering our coverage to keep all bases covered.