Why You Should Buy Insurance in 2016

Why You Should Buy Insurance in 2016

Many of us feel like we’re constantly strapped for money, so it’s not surprising that many people are also chronically uninsured. And the stress from being uninsured can be significant for those who know they need insurance, while those who are unaware of just how important insurance is may end up caught out if the worst happens.

Unfortunately, disasters and accidents do happen, and if you don’t have the right insurance (or any insurance), you and your family could lose everything that you’ve worked so hard for. Insurance can protect your family in the event that something happens to you, protect your house and car, and keep you safe while you’re traveling. Here are a few of the types of insurance you need:

Life Insurance

It’s not fun to think about, but a life insurance policy is necessary, especially if you’re married and/or have children. Having life insurance is part of a sound financial plan, and it will give you peace of mind and the knowledge that your family will be financially ok in the event that you pass away.

The last thing your family needs to think about in the event that you pass away, is how they’ll pay for your funeral expenses and expenses like the mortgage and school fees.

Property Insurance

If you have a property, you may find that it’s mandatory to have this type of insurance. Your home is likely to be your greatest asset, so it’s crucial that you’re covered in the event of a disaster like a fire or flood. If you’re renting a property, it’s a good idea to have renters insurance or contents coverage which will protect you in the event of a disaster, fire or burglary.

Car Insurance

Car insurance is a must. While you may think you’re a safe driver, what if you need to slam your brakes suddenly or swerve to miss a hazard on the road? And then there’s the case that your car is hit while you have it safely parked, or you’re victim of a hit and run. Having a car insurance policy will mean that if you happen to be in a car crash and your car is badly damaged, you can then claim for either the repair costs or a new car of the same value.

So now that you know how important insurance coverage is, how do you go about finding a policy that not only offers you exceptional coverage, but doesn’t break the bank? Check out Compare the Market, which is a comparison service, comparing policies from some of the top health funds in Australia. The service is also free, since the insurance companies pay the commission instead.

Whether you’re looking for health, car, life, home, or travel insurance, you’ll be able to compare some of the most trusted brands in the country and see the price difference. If you’ve been putting off buying insurance, make 2016 the year you buy it.