FAQs

Is it necessary to have home insurance?

Replacing your home is an expensive proposition. Having the right property insurance can make the process less difficult. An active home insurance policy brings peace of mind. Home insurance often pays for damage, theft or destruction of your belongings. Having property insurance creates the ability to recoup damages if your home is broken into and your possessions stolen. Likewise, in the happening of a fire or other disaster, your property policy will help reimburse to replace or repair your costly belongings.

Is it necessary to have travel insurance?

Why do you need travel insurance? Well, it can give you peace of mind so you can enjoy your holiday / business trip knowing that if something goes wrong, you have got cover.

Is it necessary to have Motor Insurance ?

Motor insurance protects you from personal liability/problem should you be in an accident. Aside from the legal requirements, if you are in an accident and you are at fault you can be held personally to blame for the costs of medical bills if a person is injured and major financial payments if a person is killed. These costs can ruin most families. It can mean you have to sell your home, sell your stocks and bonds, or sell other assets in order to compensate for the costs. It can also mean years of future payments in the event you cannot pay them all at once, which most people cannot do. Depending on the amount to be paid, you could spend the rest of your life paying them off.

Question: how are you protected? What if you are hit by someone who does not have insurance? If you do not have insurance either, chances are good you will be faced with your own medical payments. You can, of course, take the other person to court but what if they are poor and cannot pay? this is where your own car insurance will usually help with such payments.

In addition, depending on the type of car insurance that you have, your vehicle can be repaired or replaced, thus reducing the out of pocket expense of replacing it yourself. Another reason for having car insurance has to do with repair of the other vehicle if you hit someone. As you know, vehicle repairs can be very expensive. If you are revealed to be at error in an accident you may be required to pay for the repairs or the replacement of the motor vehicle that you hit. once more, this is cash that has to come out of your pocket. As to one side to this, you are also accountable for any real property damage that you might cause.

For example, if you run into a house and cause a wall to collapse, you would be required to make payment for those repairs. One single accident can all but force you into bankruptcy court if you are not protected by motor insurance.