Don’t Set and Forget Your Insurance

Making your insurance work for you isn’t just about signing on the dotted line. It can be all too easy to ‘set-and-forget’ your insurance unless something happens and you need to claim. But if there is one thing you take out of this quick read, let it be this: make your insurances part of a regular ‘financial health check’.

Understand your policy

The ‘set-and-forget’ approach to insurance (which is, by the way, completely understandable), has a couple of key downsides. First, it can mean that you forget about certain benefits of your policy and potentially miss out on a valid claim. And second, without reviewing your cover on a regular basis as your life and situation change, you can unwittingly expose yourself to the risk of being under-insured (or even being over insured) or having an outdated policy.

The good news is that with me in your corner you don’t need to wade through policy wording for a refresher on the benefits your insurance offers (and what you can claim on). All you have to do is pick up the phone or send us an email and we’ll happily talk through the detail with you. And of course, I’ll remind you when it’s time to check-in on whether your insurance needs a tweak or two, which brings us to the next point…

Make the most of the review process

As you know, your insurance policy renews annually. A year may not seem like a long time, but when you sit down and talk through where you are at today, it can be amazing how much has changed. And it’s that change that we, as your adviser, need to know about so that I can assess whether your insurance is still in line with your life and needs. Think of it as an opportunity to take stock and move forward with confidence that you have the right protection in place (even if no change to your insurance is required).

Put me to work at claim time

Perhaps an obvious one, but never hesitate to contact me if:

  1. You want to know whether you can claim on your insurance, or
  2. You know you can claim and need to lodge it with the insurer.

I’m here to help you understand what you can claim on, work through the claim documentation with you and facilitate the claim process with your insurer. Facilitating the best outcome at claim time is always the aim; I’m in your corner.

I look forward to seeing or talking to you at your next insurance review. As always, if you have any queries in the meantime, I welcome you to get in touch.

The opinions expressed in this article should not be taken as financial advice or a recommendation for any financial product. Rod Schubert Financial Advice (RSFA) shall not be liable or responsible for any information, omissions, or errors present. Any commentary provided are the personal views of the author and are not necessarily representative of the views and opinions of Rod Schubert Financial Advice. We recommend seeking professional legal and/or lending advice before taking any action.

Rod Schubert

My favourite part of being in finance the satisfaction of knowing our clients are in a better position than when they first approached us.

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