We all know that at times bad things happen to good people and that this being the case a little bit of risk management in the form of insurance won’t go amiss.
Whilst you can insure just about everything there are four insurance policies that we would consider ‘a must have’ in order to protect you, your family and your hard earned assets.
If you are still paying off a new vehicle then car insurance will almost certainly be part of the payment plan. If not and you’re responsible for the escalating costs that are part and parcel of repairing or replacing your motor vehicle then insurance is not an optional extra.
On a positive note however, we also know that statistically car insurance is one of the instances where women are lower insurance risks than their male counterparts and that they benefit from lower insurance premiums as a result. Of the many types of car, bike, boat and affiliated insurance policies for you to choose from – and they differ depending on the company you are insured with – in the main the following three categories will feature:-
- Comprehensive Insurance – an all-encompassing insurance policy that will cover your vehicle against most risks and perils. 24/7 Roadside assistance very often comes standard with this type of insurance.
- Theft, Third Party, Fire Insurance – protects your car against theft, damages you have caused to another person’s car during an accident and fire-related damages,
- Third Party – covers expenses if your car damages another person’s property or vehicle during an accident. It does not cover your vehicle.
For most of us our home is our greatest asset so it makes sense that we adequately protect it. In fact, property insurance is often mandatory if a homeowner has an outstanding bank loan on the property.
The following two options should be considered:-
- Buildings Insurance -covers loss or damage to the structure of your house due to most things including fire, lightning, explosion, earthquake, storms, floods and burst water pipes. Outbuildings, garages, swimming pool, walls and gates are usually covered by buildings insurance.
- Home Contents Insurance – provides protection for all your belongings inside your home in the event of a theft, fire, disaster or loss up to the limit stated on your schedule. Outbuildings content is usually included.
Nothing is more important than the health of you and your loved ones and the last thing you need to be worrying about when urgent medical care is needed is the bill.
Today many employers, aware of the burden of escalating medical costs, provide health benefits to their employees. This will probably be your best and most affordable option of securing medical aid and might even provide coverage for your marriage partner as well.
Choices range from relatively inexpensive hospital plans to reasonable day-to-day benefits through to very expensive full cover medical plans. Because we are all so different and our health care needs vary according to our finances and the state of our health, it pays to take a careful look at the wide range of options available and only then choose one that caters to your individual needs.
Whatever you choose, make sure you have the health cover that will keep you and your family healthy – physically and financially. After all, if you don’t have your health, what do you have?
If we’re absolutely honest this is the one insurance that not many of us want to think about. But think about it we must particularly if we’re married with children or other dependents.
Losing a loved one is devastating enough for a family without being faced with financial ruin from loss of income as well. For the modern women life insurance is the solution to this.
The comprehensive range of life insurance options on the market today cater for all eventualities and budgets. Not only can they provide a stream of income that will protect your dependents in the case of your death, some policies provide for disease and disability cover as well.
Having traded the traditional role of stay-at-home mom to financial help-meet and finally to career women has been no mean feat and women should be proud that they’ve managed it all so well.
Quite simply, life insurance fills the income gap when you no longer can.