Good insurance cover is there to help you when things go wrong.

Having an appropriate selection of policies in place for you and your family can offer real financial peace-of-mind.

But how do you know you’ve chosen the right insurance provider?

There are a few things to think about.

Your insurance needs

Everyone’s needs and priorities are a little different, and your insurance cover will reflect that.

When you are thinking about choosing the right insurance provider, you may like to start by checking in on what you most want your insurance to do.

Are you worried about covering health costs into the future, or the income needs of your family? Are you focused more on ensuring those you love are looked after financially if you are not around, or ensuring that you could potentially access  medications that are not government funded?

Determining what’s most important will help to guide your insurance selection process.

Policy features and benefits

When you compare the policies on offer, it can help to do a bit of a deep dive into them and get a full understanding of the features and benefits of each.

Even policies that look similar on the surface can be different in the way they would respond to events, or their criteria for a claim. This is where having an adviser can really help – we’ve been in the market long enough to know the sort of things to look for and how policies can vary.

It is often the case that one policy is not necessarily “better” than another, but it may have features and benefits that more closely align with your priorities and needs.

Comparing premiums

Many people first focus on the cost of the insurance policies they are comparing. That’s perfectly natural, particularly when household budgets are under pressure.

But it’s important to understand what you are getting for your premiums and fees. If a policy is cheaper because it is less likely to pay out when you need it, you may find that is a false economy.

As advisers, we can help you make this comparison and determine where the value lies. We can also talk to you about ways to make premiums fit your financial situation.

Flexibility

Your situation and unique needs will change as you go through life, and it is important to find an insurer that will move with you.

Many insurers have started to add more options for flexibility into their cover in recent years, including optional extras that can be added later in life, and the option for premium relief during tougher financial periods.

Like to talk?

Insurance doesn’t need to be daunting. We can help you look at the options available in the market and find a provider who will be an appropriate fit for you. Get in touch with us today to chat about your needs and how we can help you.

Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.