Archive for 'Insurance Policies'
Are Insurance Policies Worth It
Posted on 14. Dec, 2008 by admin.
It’s a bit of a dilemma isn’t it. On one hand, you have the expensive insurance premiums that you would be hit with if you decided to take out insurance coverage on your assets. Unfortunately, the higher the value of your assets, the more you will be expected to pay in premiums. This is simply part of the deal with insurance - and it is completely impossible to avoid paying more, the higher up the asset scale you go. Alternatively, you could decide to opt away from insurance cover, and instead - bear the risk that in involved in not having such protection. So which is best?
Well, from my point of view as a financial consultant, you should never, ever go without insurance. Here is the thing. You never know what might happen to your stuff. Someone could come along, without you knowing, and scratch the paintwork of your car. If they fail to leave a message claiming responsibility for their mistake, the burden gets placed on you. If you have insurance cover - the burden then gets transferred to the company. If you don’t have insurance protection - you are required to pay for something which was completely out of your control. See where I’m coming from? Don’t ever be caught without insurance cover!