Personal Insurance

The reason behind purchasing insurance is to make you and your family financially whole following a loss.

You enter into an agreement with an insurance company to pay a (relatively) small fee, otherwise known as a premium, to the insurance company today, causing a small but certain loss to you now, in exchange for a guarantee from the insurance company that it will bear the burden of a large but uncertain loss in the future.

Certainty versus Uncertainty

With expert advice from IF Admin, covering but not limited to the following covers available we will strive to make sure you are adequately covered for all your personal short term insurance needs for when the uncertain losses occur.

Buildings Insurance

This cover is designed to protect you financially against loss or damage to the actual physical structure of your home – which is probably your single largest investment and it will also extend to cover your home loan. If you own a property which is financed, you are required by the financial institution to have homeowners insurance. It is commonly believed that its compulsory to have homeowners insurance with the bank that granted your home loan however this is not the case,┬áit may be beneficial to choose the company that is already insuring your car or other valuables.

Contents Insurance

While the buildings cover protects against loss or damage to the physical structure of your home, it doesn’t cover what’s inside. Since the financial investment you have made in the contents of your home is likely to be considerable, even if you calculate the contents you’ve put into one room, a loss could be devastating to replace your belongings. It is important before you insure the contents of your home to make a list of each room and find out how much it would cost to replace each item at today’s prices – which is not the same price as you bought the items. Add everything together and determine your total replacement value.

Personal Valuables Insurance

This is separate to Buildings and Contents cover as it covers your general valuables – things you usually wear or carry away from home – like clothing, handbag or briefcase. It also lets you insure specified items individually like laptops, spectacles, bicycles, jewellery and the like as specified items.

Motor Insurance

Next to your house, your car is probably your biggest and most expensive asset – having reliable short term insurance will give you the financial protection and peace of mind you need. Depending on your needs there are various covers available: Comprehensive Car Insurance, Third Party Fire and Theft Insurance and Third Party cover only. While selecting more restrictive motor insurance such as Third Party Fire and Theft or Third Party Only, your premium may be lower if you don’t choose Comprehensive cover, bear in mind that if you damage or write off your car in an accident you will have to cover the costs yourself.

Pet Insurance

Pet’s are family too… Pet health insurance helps to pay for veterinary care when a pet dog or cat becomes ill or is injured. This provides you with peace of mind and helps you avoid having to make tough financial decisions about your pet’s health. While your pet might be healthy today, there is no way to predict what might happen in the future. With the correct pet insurance, you’ll be able to make sure that your pet has access to the best care possible in the event of an unforeseen illness or accident.