Wednesday 03 April 2019

Ways to protect against the unexpected

Author: Cambridge Web Marketing

However organised you are, and however much you prepare for the challenges that life throws at you, sometimes there are things you just don’t see coming. From sudden illness to redundancy, life can throw all sorts of curve balls your way. And though it may be impossible to predict the future, there are some steps you can take to protect yourself, and your family against unexpected events.

Financially speaking, the best way to protect yourself and your loved ones is by taking out comprehensive insurance cover. The more policies you have and the better these policies are, the easier it will be for you to ride out any storms. If you’re looking for ways to protect yourself from the unexpected, take a look at our list of some of the most important insurance policies around.

Home insurance

Home insurance is one type of policy that everyone should have. Whether you live in a house, an apartment or a mansion, home insurance will help to protect your finances in case something unexpected happens to your property. A typical home insurance policy is made up of two parts: buildings insurance and contents insurance. Buildings insurance covers the fabric of your property. If there was a fire or if part of the roof caved in during a storm, the policy would pay out and allow you to make the necessary repairs.

Contents cover, on the other hand, protects your belongings. Policies generally cover everything contained in the property while some also cover garden sheds and other nearby areas as well. If there was a flood in your home or if you were burgled, the policy would allow you to replace your belongings quickly and easily.

Life insurance

Life insurance is possibly the ultimate protection against the unexpected. As @HowStuffWorks says, “Life insurance is meant to replace your “value” to your family once you’re gone. For a working parent, a big part of that value is your salary. If you die, you’ll want your family to receive enough money to replace your salary for at least the next five to seven years.”

If you don’t have any dependants, a life insurance policy may not be right for you. Instead, you might want to consider taking out redundancy insurance or critical illness cover to help you cope if something unexpected happens.

Critical illness cover

Critical illness cover is a little different from most other types of insurance policy. This type of cover pays out a lump sum if you’re diagnosed with one of the serious illnesses listed in your policy. Typically, policies cover conditions like a stroke, heart attack, MS and certain types of cancer. This money can allow you to pay your mortgage, adapt your property to your new requirements – or simply enjoy your life and your loved ones.

Taking out insurance policies is an excellent way to protect yourself and your family from the unknown. Find out more by speaking to one of our expert advisors today.

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Written by: Cambridge Web Marketing