The Risk Factor



Why do you buy insurance? Is your primary reason the fact that it’s the “done thing” or do you do it for peace of mind? Is your main motivation inspired by a statutory or contractual legal requirement or are you seeking to protect your assets?

In theory, we all buy insurance to safeguard ourselves against loss of our own property, lifestyle or the risk of a claim being made against us by someone else but some will only buy if compelled to do so. Others won’t have thought through the choices involved in personal protection and will just buy what they’ve always bought or someone once told them to buy.

Increasingly, if you’re in the latter group, then you should be moving towards a goal of making informed decisions based on the importance to you of the things that are covered and the problems you would be caused if something were to happen to them. Most people know they are required to insure against damaging other cars or causing injury to road users and they’ll extend that to deciding whether to cover damage to their own vehicle.

Do you know what would happen to your family if you were to die suddenly or be unable to work due to a critical illness? Would they even be able to afford funeral costs? How easily could the lfestyle you work so hard to maintain be achieved with one less salary coming in? Would payments from your employers cease immediately or is there some group cover in place?

What if you couldn’t work due to having to wait a long time for an operation to put right a medical problem? Would you lose your job? With all the cuts currently planned, it’s not going to be any good relying on the state to see you through as clearly there might not be adequate provision for you there.

What all this adds up to is that you need to be considering an insurance planning process. Insurance is an essential component of financial security. Not everyone can afford all the insurance cover they might want or need in an ideal world and maybe it’s reasonable to still accept a level of risk yourself.  After all, we can’t wrap ourselves in cotton wool but the serious issues need to be considered and responded to.

You may not be aware of the full range of insurance types available today or you may need some help to make decisions about your purchases. That’s why we’re here to offer the benefit of our expertise. We’ve made it even easier to get a quote from us, just navigate to our home page and you’ll find a simple, easy form to complete and we’ll get back to you. Alternatively, just call us on 0845 652 2580.

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