Insurance

  • What is insurance?

    Insurance is an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium.

  • What can you insure?

    You can buy insurance cover for almost anything, from home, accident, life, car and health insurance to sporting, income, travel and even pet insurance.

  • What is an insurance policy?

    An insurance policy is a legal agreement between you (the insured) and the company (the insurer). You agree to pay the specified premium (payment) and they agree to compensate you for the specified loss, according to the details of the agreement.

    The Insurance company will supply all the information relating to your insurance in the policy they provide to you. These are usually lengthy documents or booklets with what is known as “the fine print”.

    It is important that you understand exactly what your premium is paying for and what you will and won’t be compensated for. So read the fine print!

  • Are my belongings covered by the Landlord's insurance in a rental property?

    No, landlords generally only insure their building and public space (public liability).

    However, you can buy an insurance cover called “Contents insurance” which insures your belongings up to an agreed value. It’s up to you to determine how much cover you need. But rememeber there are lots of costs in replacing all of your belongings at once.