Reasons for insurance

I am very honest when I say that I do not agree with the false advertising of insurance companies who report that having insurance protects you and that it is a safeguard for yourself, your family and your possessions. We all know that having an insurance policy does not protect you from harm of theft. Have you ever seen or heard of for that matter of fact, of anybody who during a burglary has shoved their insurance policy in the face of the intruder shouting, ‘Hold it right there, Mr! I have insurance!’ The mere though makes me laugh, it is ridiculous yet these are some of the false advertising that insurance companies try and sell the general public.

Now, what insurance is good for however is the monetary value of the insured items if damaged or lost or in the case of death or disability; it gives you the financial security, to cover unexpected medical bills or the loss of a salary.

The insurance industry can be complicated at the beginning as there are many insurance policies from which to choose, each offering different amounts of coverage. And then there are also many companies offering insurance, you can even buy insurance from some well known food chains. With all these different products to choose from and from all these different places, it can be quite tricky, especially since the documents are not the easiest to navigate with all the terminology and fine print.

Speak to an insurance broker

So with all these thing you need to keep in mind, it is important that you speak to a trusted insurance broker, who can help you navigate your way through the insurance industry. Insurance brokers can either work for an insurance agency or they could work independently, and the role of the insurance broker is to help you understand what a particular policy covers and choose the most comprehensible cover for your needs.

Now with that being said, I firmly believe that you should firstly do your own investigation as to what you really need insured and the different insurance options available to you before you go speak with an insurance broker. I say this because buying any product requires you to investigate the product first before going to the salesman to ask his opinion, as this is the only way you can educate yourself as to not be duped into taking out more cover than you need. Granted a good sales broker will always act in your best interest yet you still need to look after you money and become insurance smart.

I advocate educating yourself about a product before you buy it, this only makes good sense to me, yet I believe that once you have a better understanding of what you need it is wisest to speak to a good insurance broker and allow them to explain in even more detail what is covered under a particular policy and what is not. They are experts in their field and are abreast of the latest insurance policies and trends.

Insurance brokers can be found online many sites will give you a list of insurance companies and independent brokers. You can call anyone of the many brokerage firms, but always remember that all insurance brokers need to be registered with the Financial Services Board, which ensures that they need to follow strict codes of conduct when dealing with clients and arranging insurance.

The site http://www.afi.co.za, is for an insurance company which hires insurance brokers.