That is always a hard question to answer, however, I always say that the cheapest or even the most expensive is not necessarily always the best. When it comes to insurance, people tend to look at what it’s going to cost them rather than what cover the policy will provide.
Today’s policies have been written in what they call “layman’s” terms but unless you understand the terminology, one can misinterpret their meaning. How one perceives what is covered is always going to be different as to how an Insurance Company defines the cover provided. For instance, how a person defines “Flood” is different to how the Insurance defines it. Who a person thinks is at fault in a Motor Vehicle accident can vary depending on various circumstances that led to the accident in the first place and these circumstances can change the “blame’ scenario very quickly.
Ask yourself these questions:
- How do you define what a policy means by “Replacement Value”?
- How do I know if my sum insured is adequate to replace my house should it be destroyed in a fire?
- What are my entitlements for rental assistance should my house be uninhabitable during repairs?
These are just some questions that the average person would need to know about their policies to ensure they have the right cover. They can go on forever and you need someone who is prepared to answer them for you in detail.
There are so many different policies available in today’s Insurance Market and unless you are prepared to spend time ringing every Insurer, it can be a very daunting task. The best option I would recommend to anyone is to contact your Broker and let them do the leg work for you. They understand what is available and can also source the best cover and price to suit your needs.
At OneSure Insurance Services, we do exactly that. We understand these issues and we have the knowledge and expertise to provide you with the right advice when insuring what is important to you.