More Auto Insurance Tips

Car and Home Insurance Northern Ireland



Car and Home Insurance Northern Ireland

Don't skimp on insurance.

This probably doesn't sound like a way to save money.

But keep in mind the purpose of insurance is to transfer to an insurance company the financial risk you can't afford to carry yourself.

Without formal insurance, you are de facto self-insuring - meaning you'll pay out of your own pocket in the event of a financial disaster such as loss of a home or a serious illness.

For example, many renters don't own renter's insurance, which covers the loss of their personal property (no, the landlord's insurance doesn't cover it).

Renter's insurance is very affordable, yet how many times do you read about people who lose everything in an apartment fire and have no insurance?

Buy the insurance you need.

Carefully review your insurance needs with your financial adviser.

Car, medical and home insurance are probably obvious.

But do you have disability insurance in case you lose income due to an illness or injury? Many financial planners recommend clients buy long-term care insurance no later than their late 50s or early 60s to cover the high cost of potential long-term care.

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