If it might be unrealistic bordering on naïve to assume that anyone really likes paying for insurance.
However, it is something that might one day be all that stands between you and financial disaster so it might be important to take the matter seriously.
There are, of course, dozens if not hundreds of different types of insurance but some are perhaps rather more important to the average person’s daily life than others.
Possibly the most familiar and also potentially reassuring forms of cover are:
- Household cover – This is what protects us financially against the consequences of things such as fire, storm damage, burglary and so on. Liverpool Victoria (also known as LV) is a provider of this type of policy;
- Motor vehicle insurance – This is not only important it is one of those rare forms of cover that is actually a legal requirement if you plan to use a motor vehicle on the public roads. Axa Insurance is one specialist in this area;
- Another car insurance provider is Esure who also offer additional insurance cover such as breakdown assistance and legal protection;
- Life Insurance / Assurance – Policies here provide financial help to our families in the event of our death. Aviva is one well known provider of life cover;
- Mortgage protection – The form of cover is typically aimed at meeting your mortgage repayments for a specified period of time if you cannot work due to accident, sickness or unemployment. Drewberry Mortgage Insurance is a specialist broker in this area.
This list is by no means exhaustive but you may find that some insurance providers offer broad spectrum cover across many of these domains whilst others specialise or major in one or two of them.
Almost inevitably in tough economic times, some people start to question whether they really need any form of insurance other than perhaps in situations, such as motor cover, where they have no real choice.
It is often said that insurance is absolutely useless to you – but unfortunately only up until the moment that you need to make a claim against your policy. At that point and immediately afterwards your insurance policy might easily become one of the most important things in your life.
So, being casual and dismissive about insurance might not be advisable. Any responsible adult should perhaps take stock of their risks and financial exposures, plus those of their family and loved ones, then decide how best to protect them with an appropriate policy.