Life can change in a heartbeat. But is your insurance adequate if the unthinkable happens?
It’s easy to convince yourself that it won’t happen to you. It’s also easy to tell yourself that tomorrow is the right time to insure your shiny new boat or increase your cover to protect your newly renovated house – but tomorrow may be too late.
Here are some of the life milestones that can affect your insurance. Take a moment to do a quick check.
• Let’s face it, buying a car, boat or motorcycle is a big purchase. It’s easy to get so intoxicated by that new-car smell that you completely forget to call your insurer. So, before you hit the road in your new vehicle, consider whether you’ll need comprehensive, third-party fire and theft, or third-party property insurance.
• It’s easy for things to go pear-shaped on an overseas holiday. And things can go wrong in Australia, too. Don’t assume you’ll receive reciprocal medical cover in a foreign country. Taking out travel insurance for your health and valuables is just as important as packing your suitcase.
• Moving out of home is a milestone worth celebrating. But don’t get so caught up in your new freedom that you forget to insure your possessions. If you’re moving, you’ll need to take out cover to protect everything from your mobile phone to the clothes on your back.
• Buying property is one of the biggest purchases you’ll ever make. Ensure your investment is covered so it can be rebuilt or repaired if it’s damaged. Remember that you’ll need separate insurance to cover your belongings (contents) and your property (home).
• Becoming a landlord can feel daunting. Landlord insurance is different from standard home insurance as it provides a few extras to protect your income. You can be covered for problems such as loss of rent and malicious damage caused by tenants.
Talk to the team at Community Bank Sarina Bendigo Bank on 4943 2634 to learn more about insurance for all of life’s milestones. As a bonus, if you take out insurance by 30 June 2023 – then you have the opportunity to win up to 12 months' worth of cover! Terms and conditions apply.
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