Different types of insurance policies that you should consider taking out

It is extremely unlikely that you’ll need all insurance products that are on the market, but on the policies that you do have, how do you know that your money is going on the best policies for you and for what you need the most?

We have conducted research and gathered information to help you make the right decision when it comes to all things insurance. See how you can manage your finances.

Mobile phone insurance

Buy iPhone insurance today

Different policies will depend on who you opt to be your provider. Policies will be made up of different cover options and various amounts of areas covered. Insure your iPhone today.

Theft insurance:

If your phone is ever stolen, you can contact your insurance provider and they should pay to replace it. However the definition of ‘theft’ varies among providers so always be careful when making a claim.

Accidental damage:

Your repair and replacement costs will be covered if your phone was accidentally damaged. This doesn’t normally include damage by neglect.

Home insurance

Buildings insurance

Buildings insurance will cover most of the cost of repairs or rebuilding if it’s damaged by a storm, flooding, fire, lightening etc. However this won’t cover general wear and tear that may occur or if a property is left unoccupied for more than 60 days.

Buildings insurance is a legal requirement if you own your home, mortgage lenders will also insist on you paying for buildings cover. Save on household bills.

Contents insurance

Contents insurance will cover your possessions if lost or damaged. For most people, having contents insurance is vital if your home is burgled or if there’s a fire or flood.

This means your insurance provider could payout for a new item to replace your damaged one. However, your policy may state that you have to pay an excess and your premiums may rise the following year. Find out how to claim.

Car insurance

Car insurance is a legal requirement and you are obliged to at least have third party cover. There are three types of car insurance:

Third party:

This will cover other people in the car if involved in an accident or damage to property. However, if your car is damaged or stolen this will be something that you’ll have to pay for yourself.

Third party, fire and theft:

This is the same as third party, but it will cover the cost of repairs/replacement if your car is stolen or set on fire. Buy insurance here.

Comprehensive:

Comprehensive insurance will cover everything listed above and includes damage to your own car.

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