CYA: Revisiting my insurance coverage

Although insurance isn’t a huge line in my budget, the peace of mind it provides is invaluable and we all know how important it is, sometimes it can get expensive but I will always try to get coverage for as much as possible, in fact, I am that person that thinks that it is necessary to even insure your janitors.  Rowlett Auto insurance can sometimes be hard to understand. Costlow Insurance specializes in demystifying the various parts of an auto insurance policy. Acquiring insurance for this important purchase shouldn’t be taken lightly. If you have a loss that affects your auto, you certainly want the peace of mind that comes with the knowledge that you’ve purchased the best car insurance coverage with the best coverage values through an agent you can trust. Let us help you make the right choices. Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You can find here more about auto insurance – Costlow Insurance. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy. This coverage pays for the treatment of injuries to the driver and passengers of the policyholder’s car. At its broadest, PIP can cover medical payments, lost wages and the cost of replacing services normally performed by someone injured in an auto accident. It may also cover funeral costs. But after being in the auto accident, it is always recommended to contact with the expert injury attorney by visiting to fight for the reckless driving to cover the loss. An injury lawyer knows, how to claim the loss from the faultier as well as help you to get the exact amount from the insurance company.

While my car insurance is pretty sussed and doesn’t require much thought, a couple things have got me rethinking some of my other insurance cover.

Contents insurance

I stumbled across a TradeMe thread the other week in which people were discussing how much contents insurance they had. $100k for a three bedroom house seemed to be the consensus. This was my reaction:

WTF?And then I followed one of the links through to a contents insurance calculator and whizzed through quickly. By our standards, their allowances were a teeny bit insane. $7k for two laptops? A $1500 dryer? $4000 of shoes per person? An expensive china cabinet full of antiques? Nuh uh.

I’m not sure we count as minimalist, but we don’t have a ton of stuff realistically and most of it isn’t worth very much.

To be fair, we probably are a little underinsured (I can’t even remember exactly how much cover we currently have) but hopefully come next renewal, we’ll also have redone the kitchen and may as well roll all those changes up at once. Very little we own was obtained new, but I am definitely aware that should we need to replace it all at once it would be expensive. That said, should we lose everything in one fell swoop, we would still replace things gradually in order to get more for the money. It took about 3 months for us to buy a bedroom set after moving in here (dresser and bedside tables).

A kitchen with a dishwasher, a decent fridge, a gas stove and cabinets not from the 1960s will probably add a significant number to the amount we want to be insured for. Still, the annual premium dropped to around $400 when I became a homeowner, so hopefully it will still be pretty affordable even after increasing the coverage and updating the policy accordingly.

Health insurance

Previously I’ve had a bit of a look into Best private health insurance uk – where previous employers offered discounts through Southern Cross (my current one does not) and when I needed my wisdom teeth out. And maybe now once again, since a friend is undergoing expensive dental work after an accident which is only partly covered by ACC.

Every time I’ve reached the conclusion that for me it’s a waste of money, my needs are around optical and dental and the cost of policies just don’t stack up against what I would get back. T might benefit from policies that cover physiotherapy, being both accident and injury prone.

What I would give for a comprehensive health insurance comparison site! Maybe this is an instance where an adviser would actually be worth it.

But I suspect this is something I’m going to put aside yet again. Maybe when kids come into the picture (my two bosses who have kids reckon they’ve got their money’s worth and more from health insurance).

When did you last reconsider your insurance coverage?

2 thoughts on “CYA: Revisiting my insurance coverage

  • Reply Taylor Lee @ Yuppie Millennial August 10, 2016 at 23:15

    There is a minimum level of insurance required by my lender (including liability and possessions). So that’s what I got.

  • Reply Vicki@Make Smarter Decisions August 10, 2016 at 23:40

    We insure everything (other than health) at the lowest level possible and with the highest deductibles possible. We just assume it will be easier to pay for things ourselves rather than to try to make a claim. Luckily we haven’t needed much! We do have a large umbrella policy though – for rental apartments, in case of any catastrophic event.

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