Would you like to hear about the time I was afflicted with a bout of tinea so severe, my toes melded together to create a single, inflamed, elephantine super toe? No? Perhaps you’d prefer a chat about the in’s and out’s of insurance over a cup of cold gravy and a pig in a blanket.
For most of us, thinking about how insurance works is about as much fun as discussing debilitating fungal infections. Like death and renting a house, it’s something we prefer to put to the back of our minds in the hope that we’ll never have to get intimately involved in its inner machinations. But if you were to delve more deeply into how insurance works, you might find that it’s a much less complicated caper than you thought.
Let’s look at how Building and Contents insurance works, for instance. Some people choose to insure their home but not its contents, believing that a Liberace poster and a tank full of hermit crabs are not worth the hassle or expense of taking out contents insurance. But no matter how miserly an assortment of household goods and appliances you think you possess, in the event of a catastrophic fire, you’ll realise that replacing everything you own is a breathtakingly expensive affair. This is why opting not only for contents insurance, but taking the time to carefully assess the value of your items, will pay dividends should the unthinkable happen. Most building and contents insurance providers ask that you give you a figure known as the Sum Insured. This is the maximum amount they will pay you to replace the items in your home. If the Sum Insured you provide is $15,000, and it then turns out that the baseball glove shaped sofa alone was worth a tidy twelve grand, too bad. Be sure not to underestimate the value of your possessions.
To learn more about how to get the insurance you need, contact the people at Mckenzie Ross today on (03) 9691 2222.
