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Preventive maintenance matters.

Imagine loading up the car and heading off on a family holiday.  After the usual dramas of getting everything and everyone into the car and leaving just in time to catch the ferry, you get halfway there and the car breaks down. 

A simple matter like a worn hose finally letting go and you’re not going anywhere.  Routine checks and preventive maintenance by a knowledgeable mechanic would have easily prevented things going so badly wrong.  It really pays to have your car regularly checked, and the necessary maintenance carried out, so that it will work when you need it to. 

Sounds like good advice doesn’t it? Insurance is no different, except there is no sticker on the window to tell you when your routine check-up is due.  You really don’t want your policy to fail you right when you need it most!  Just as a Warrant of Fitness and annual service is meant to make sure the car is safe and reliable, an insurance audit will make sure your policy will work properly when it’s needed.

There are no second chances with insurance.  It has to fire on the first try, and do what’s expected.  But unlike the car, those expectations can change from year to year.  Your income may rise or fall, your family circumstances may change, your debt may have increased or decreased.  Our insurance audit captures these changes, and makes sure the necessary maintenance is carried out 

When special events occur in your life, an insurance audit will identify what needs to be changed and puts the recommendations into a written report.  A drop in debt or income may mean you need less cover, which is easy – we knock it back.  Other changes mean your insurance needs to be bumped up a bit.

Some life policies allow you to increase your cover with no medical questions after certain changes of circumstance (such as increasing debt, getting married or divorced, having a baby or sending a child off to university).  This ‘special events increase’ option has meant customers who have existing conditions can get extra cover they would otherwise never have obtained.  For others, the convenience of no forms to fill out is a great bonus.

For existing WealthDesign customers, our regular reviews are a great time to audit the covers in place.  And for new clients, our insurance audit will highlight any areas that may not be covered, or conversely areas that have the wrong covers for the circumstances.   Our insurance audit is a free service, and is backed by independent research.

If you or someone you know needs an insurance audit, call our office and make an appointment today.  Be prepared for whatever life throws your way.