|Personal Risk Insurance by Tracey
Personal Risk insurance is one of those things that we often put it into the too-hard-basket.
There are lots of different types of cover and plenty of things to consider, so it helps to get some advice, so you have a good understanding of your options.
Here are some things to consider about your insurances:
It pays to keep your policy up to date – but it doesn’t always pay to change it
Things in your life change, and your insurance needs might change too. Milestones like buying a house or having a baby are an exciting time for anyone, but it’s also a good reason to revisit your insurance cover to make sure you have a plan for that debt or for your family if something should happen to you.
As with any insurance, when you review your cover you might decide that another insurer could offer you a better deal. But before you cancel your policies and make the switch, it’s important to get advice.
A new insurer means you will be underwritten again, and if you have any new medical issues or conditions you might get less cover or higher premiums by switching. An adviser will be able to explain how cancelling your policy might affect you for future cover and help figure out what will suit your future needs.