The question 'Do I need Insurance' is an everyday thought with a very simple answer, YES! One of the few certainties in life is in fact the uncertainty of what WILL happen tomorrow. To combat this we have to consider what COULD happen tomorrow and the subsequent consequences! This is why the need for insurance is something that is critical to each and every one of us.
The purpose of this site is to help you adopt the correct attitude to risk and help you as the consumer identify which types of insurance suit your individual needs. It will then be possible for you to see the types of insurance that are available in today's market before you go on to make any decisions or commitments.
One very important thing to understand is that the small change you may save by not adding insurance to your personal budget or business overheads will not even begin to cover your needs should the worse happen!
There are many types of insurance policies and whether you have just bought your first car, started up your own business or committed to a partner, almost every decision you make in life will require some sort of insurance to combat the risk that the decision poses.
Risk is something that is out of our hands and no matter how careful we may think we are, it is often not the actions of ourselves that determine the outcome of a situation. Risks are an extrinsic constant but they can be eliminated or at the very least significantly reduced.
For instance you may believe that you are a careful driver but you can't control the weather which brings flooding to your area causing damage to your vehicle or you wake up one morning to find your vehicle has been stolen from the street outside. Without the relevant insurance you have taken a risk and this can and will cost you dearly. So the answer to the question do I need insurance in these cases is most definitely yes!
Insuring material possessions such as a car or the contents of your home is one thing but perhaps a more prominent question is do I need insurance for my life and health or my partner's?
The priority of protecting your family is a big responsibility and it is something that is achievable by having the correct insurance in place.
Should you fall ill, or heaven forbid, even die tomorrow, how would your partner be able to pay the rent, the mortgage, the bills, the children's school fees or your impending funeral costs? You may not have visited a doctor for 20 years, but a heart attack can hospitalise you for a sustained period of time or at worse, kill you.
We should be realistic when thinking about our insurance needs and as fit as we feel there is no guarantee that we will be around forever.
Taking out Life Insurance or Health Insurance is a very cheap and easy process and the fact is that while we are at our fittest and less vulnerable it is the best time to actually take out insurance as you will have no problems in applying and securing the financial safety of your family for years to come should disaster strike tomorrow! Basic products such as a Life Term Insurance Policy are very simple and cost effective to take out on-line or with an insurance broker where ever you are in the world.
In searching for insurance on-line you may have come across the terms 'Insurance' and 'Assurance'
Generally the word 'insurance' refers to providing cover for something that might happen such as theft or damage whereby 'assurance' is cover for an event that is going to happen. 'Insurance' is the generally accepted term but people using this description are often corrected. In the United States both forms of coverage are called "insurance", principally due to many companies offering both types of policy, and rather than refer to themselves using both insurance and assurance titles, they instead use just one. In the UK the term 'Assurance' is used much more widely.