Stuart Zullo
Your biggest assets are your own life and the lives of your family. In most cases, the biggest financial asset you’ll have will be in the property that you own. Today Casula, I’d like to remind you about protecting your assets and securing your financial future as well as you can.
In terms of the property that we own, insurance is vital, but it pays to shop around and ensure you’re really protected for what you think you’re protected for. Borrowing money to buy a home is a liability, so you should also ensure you’re covered properly in the even that you lose work, can’t work or provide for your family financially.
You can use an insurance broker to shop around for you, but you should always do the reading yourself – because a little misunderstanding of miscommunication can be costly. The onus is on you as the policy holder to understand exactly what you are covered for and what you’re expected to pay for excess.
Insuring your home and contents is one thing, but you should also consider insuring yourself, especially if you’re a financial provider for the family either wholly or partly. If you lose your job, can’t work or pass away, it may not be just your income that is lost. Your family and other financial providers in your household may also lose income in taking time off to care for you.
It is important to protect your financial future for your own sake and your family’s sake. I’d suggest talking to your insurance broker or financial advisor if you’re not sure if you’ve got the right cover. Discuss it with your spouse or family to ensure everyone knows what you’re covered for and how to claim if you’re not able to. Know what you’re signing up for and read the fine print carefully.