Soaking in insurance

overinsuredCall it a New Year’s resolution or that I am simply getting organised but as the New Year looms, I am digging out those insurances and calling scrutiny upon them all, one by one.
Each month as those regular direct debits disappear from my hard earned account I think to myself “am I getting the best deal?” which of course, more than likely, we are not.
It’s the urgency to sign on the dotted line before the car can leave the yard or the house keys become your own; the intention is there to go back to that commitment and secure the better deal but before you know it – thousands of dollars have slipped into the insurance pot and not one single claim has been made or paid.
The urge exists to cancel them all and simply start again, which might make you wonder why you took out all those insurances in the beginning and raise the question, is it possible that I too, might be just a tad over insured?
It all starts when we get that first job and insure our financial future through “super” then before you know it life admin kicks in and there’s an insurance cover for everything and eagerly awaiting us all.
With the house comes a contents insurance and if you own it you’ll need house insurance as well; rent it out and you’re up for landlords insurance and liability insurance too; own a business and the insurance list is endless, including comprehensive, product and flood insurance and on top of this there’s insurance for the car, the boat, the helicopter, the plane the bike and the pet. There’s travel insurance, cancellation and baggage insurance; earn a wage and there’s income protection insurance and in case you fall ill there’s health insurance with the added dental and optical insurance; this doesn’t include the trauma insurance, life insurance and all the way to the end, funeral insurance.
Have assets like Dolly Parton and you can insure them both as well.
After paying another year of renewals, I’m exhausted, broke and soaking with insurance and declaring my New Year change.

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