What should I insure?

By Toni

Most people are unaware of items of value that they may need to insure. While most items of great value are compulsory to insure, like cars, there are things that need to have value placed in order to not lose any quality of life in the incidence of an accident.

Things like pets can also be insured against, in order to avoid costly bills from the vet, in the case of an accident involving the loved addition to your family.
Your house, also, should be well insured and covered as accidents involving fires and storms damage houses every day putting people out of pocket, and out of shelter.

Insuring your livelihood during your holidays is also essential for every traveler. Holiday insurance covers an array of things, including the cost of replacing a lost passport and health covers for anything you may come across during your travels. Most of this travel insurance can be arranged through your travel agent, or your insurance agency.

What do I have, that’s already insured?

You might be unaware or just simply forgotten, but many of your items may already be under an insurance policy at their time of acquirement or purchase. Most banks will require that some sort of insurance is placed in your house if you have taken out a mortgage in order to pay for the house. These banks usually offer the insurance policy themselves, which is definitely a plus in terms of getting a better rate, and possibly even a discounted deal on other items within the house.

Expensive electrical items are usually insured at the time of their purchase, through the maker’s company. Items like iPods, televisions, game consoles come with an insurance guarantee, and sometimes the ability to buy a longer insurance is available, and usually a good idea.