Car and Home Insurance Northern Ireland
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Add up what you pay in
insurance premiums each
year: medical, auto,
homeowner's, life, and so
on. Makes you wince, doesn't
it? Here are some ideas
about how to reduce your
insurance costs. 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. Do you have liability coverage beyond standard auto and home insurance in the event you are sued?
Watch out for gaps. People
with multiple properties in
multiple states, for
example, often use multiple
insurance agents for their
property and casualty
coverage, and can easily end
up with expensive duplicated
coverage - or worse, no
coverage at all for some
property because it was
overlooked or because a
policy expired. You may need
George McGonigal George is webmaster of an online insurance resource for Northern Ireland motorists and homeowners. We bring under one roof insurers who cover Northern Ireland that can offer online quotations to allow our visitors to compare rates in the comfort of their own homes. |
