Insurance should be part of your financial plan
SANDTON – Having short-term insurance forms a key part of a financial plan.
![](https://images.caxton.co.za/wp-content/uploads/sites/33/2015/11/GUGU46INSURANCE_16305.jpg)
This according to Bertus Visser, chief executive of distribution at PSG Insure, an independent financial services group that extends its services in the Sandton area.
“Having adequate insurance means that if something unforeseen were to happen, such as a car accident or a burglary at your home, you would be able to get back on track without derailing your financial plan,” explained Visser.
He said an average financial plan included a strict budget dictating where money goes. “Many people would really struggle financially if they had to suddenly come up with a considerable amount of money they had not planned to need,” Visser added.
“Insurance not only gives you peace of mind but will certainly make it easier to get through tough, unexpected situations.”
He went on to explain, that each person will require different cover depending on the types of assets owned.
Visser gave three types of insurance that should always be on one’s checklist:
- House insurance
House insurance provides third party liability cover. “This is useful if, for example, someone tries to claim for an injury that occurred on your property,” said Visser
- Contents insurance
Visser said even items such as a fridge, couch and clothing were important to cover. “Consider how expensive it would be to replace any of these if you were to fall victim to crime, fire or a natural disaster,” he added.
- Car insurance
“While paying for car insurance can be costly, it’s much cheaper than having to pay entirely for damages and accidents yourself,” said Visser. He advised car owners to be sure to get the right amount of cover they needed and factor it into their financial plan.
Details: www.psg.co.za