What insurance should you consider when buying a home?

Purchasing a property is a serious commitment, and in all the excitement it’s often easy to overlook the risks and forget about protecting your house, contents, and yourself in case something unexpected occurs.

Insurance is something worth thinking about when buying a home. There are different types of insurance, some of which are listed below:

Home insurance

Home insurance covers the cost of repairing or replacing your house in the event that it is damaged or destroyed.

Contents insurance

Contents insurance covers your personal belongings in and around the house, in the event that they are damaged, lost or stolen. This may include items such as furniture, clothes and appliances.

Life and trauma insurance

Life and trauma insurance is cover designed to protect you and your lifestyle. In the event of serious illness, injury or worse, life and trauma insurance can provide you with the funds you need to pay for things like your living expenses, medical costs, and mortgage repayments.

There is a range of different insurers and policies out there, as well as various discounts, benefits and bundle options to consider. It’s important that you choose the option that is right for you.

To learn more about potential insurance solutions or who to speak to for more information, contact your local MoneyQuest mortgage broker.

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Disclaimer:

This article is written to provide a summary and general overview of the subject matter covered for your information only. Every effort has been made to ensure the information in the article is current, accurate and reliable. This article has been prepared without taking into account your objectives, personal circumstances, financial situation or needs. You should consider whether it is appropriate for your circumstances. You should seek your own independent legal, financial and taxation advice before acting or relying on any of the content contained in the articles and review any relevant Product Disclosure Statement (PDS), Terms and Conditions (T&C) or Financial Services Guide (FSG).

Please consult your financial advisor, solicitor or accountant before acting on information contained in this publication.