Why is it that so many procrastinate when it comes to insurance? Most people’s reasoning is that they will sort out their insurance next month or they will phone around for a quotation tomorrow. However, most of them almost never do. Tomorrow is often too late and today is often too busy. It’s pretty simple – If you can’t afford to replace it, insure it.
The norm on short-term insurance is when we get it, we will add it but this is not always the case.
I bought a new vehicle last week and while sorting out my finance with the bank, at least four different people phoned me to find out if I had insurance for the vehicle. As I am a short- term broker this was the first thing I arranged. However, it should be like that for every major purchase you make or major item that you cannot do without.
We work hard for the things we own and there is little worse than having it taken from you and having to start all over again (without any assistance from anyone). With prominent crime rates, that is indeed a grave possibility.
When it comes to buying most things – before you purchase it, add it onto your insurance, regardless of whether it’s a car, new smartphone or even a watch that you fell in love with last year.
Now the tricky part is assessing where to place it on your policy and how to insure it. With regards to that, if it has a serial number it goes under ‘all risk’ and if it is jewellery, an evaluation certificate is needed. Anything can be added, my advice would be to make it a habit of insuring your items that you can’t afford to replace. If it’s new, send the proof of purchase to the insurer.
Make sure the things closest to your heart can be replaced without hassle when disaster strikes.
By Amanda Steyn