Car and home insurance
It can sometimes feel like a waste of money to pay for car or home insurance, after all, you can never be sure that bad things are even going to happen to either. But it’s important to remember what might happen if they do. If your car transports you to work every day it is an extremely valuable asset, because it assists you in getting to work and earning a living. Similarly, insuring things like laptops and electronics at home can save you a lot of valuable time, money and energy.
Types of car insurance
- Comprehensive
Comprehensive insurance covers your car against accidents, fire and theft. It also covers you for third parties in the event that you are liable for another car’s damage. - Third party, fire and theft
This type of insurance does not include cover for accidents, but it does include cover for third-party claims as well as loss or damage due to fire or theft. - Third-party only
Third-party only covers claims when you are liable for an accident.
Important: Whatever your decision, keep in mind that third-party cover is the least recommended type of insurance you should have when going out on the road.
2 Types of home insurance
- Homeowners insurance
Covers physical structures like your garage, walls and roof and protects you in the event of damage caused by lightening, explosions, fire, etc. - Home contents insurance
Covers everything inside your home including furniture, appliances and art or jewellery against theft, loss or damage.
Top tip: Always double-check everything that is covered in your home insurance, as many people think their household contents are covered by their homeowner’s insurance when that is seldom the case.