Give your home and contents insurance the TLC it deserves, and it will stay true to you when times get tough.
There’s nothing like unrequited love, is there? It’s the lament of many an insurance policy– unfairly passed over in favour of ‘more pressing issues’.
We keep track of our energy bills to ensure we’re consuming wisely. We compare and switch health insurance providers so we can get the best possible deal. And watching our savings grow? Well it just makes checking our bank balance, on the ING app, of course, something we sincerely look forward to.
Yet there sits home and contents insurance, patiently by the sideline. Well it’s time to bring it into the light.
1. Less demanding of your attentions
Just 15 minutes periodically is all it takes to review and update your home and contents cover. If you’ve just splashed out on a big purchase thanks to a bonus at work, let your insurance provider know with one simple phone call. (Making sure you have adequate content cover is important.)
We also recommend taking photos of your belongings and keeping receipts in a safe place, just in case – you could make digital copies and save them in the cloud, for example.
2. Considerate of your comfort
Depending on your cash flow, you may want to consider the alternative methods of payment offered by some insurers. ING home and contents insurance policies give you the flexibility to pay monthly, fortnightly or annually.
You can also consider varying your excess. A small increase in excess can often lead to big savings on your overall premium – though it’s important to remember that if you need to claim, you’ll need to pay the excess too
3. A nice kind of realist
Do your sums properly and you could be rewarded. Did you know, for example, that by overestimating the value of your building or contents, your premiums may be too high for your actual needs?
The easy way to estimate the value of your contents is to go room by room and calculate the total estimated cost to replace each item – allow 30 minutes or so, and pop it in a spreadsheet for easy updating later.
4. You can take it almost anywhere
A little added confidence on your daily commute goes a long way. Under many contents policies, for example, the big-ticket items taken out of the home like laptops and cameras can be covered in full or part. If interested in this benefit, be sure to speak with your insurer about how to tailor your cover to your needs.
5. Could even help with your taxes
If insuring a property that you rent to others, you could recoup some or all of the premium costs with the ATO. Be sure however to check in with your accountant and/or the tax people, just so you know exactly where you stand.
A dark horse indeed
A splash of attention here and that may be all you need to see your insurance’s true colours. And what better first step than a 100% obligation-free online insurance quote? It can help you compare what you’re paying now, and whether you’d be better off elsewhere, money- and protection-wise. And with ING Home and contents insurance, it only takes a few minutes online.
The more you know, huh?
The information is current as at publication. Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Deposit products, savings products, credit card and home loan products are issued by ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL and Australian Credit Licence 229823. ING Living Super (which is part of the ING Superannuation Fund ABN 13 355 603 448) is issued by Diversa Trustees Limited ABN 49 006 421 638, AFSL 235153 RSE L0000635. The insurance cover offered by ING Living Super is provided by Metlife Insurance Limited ABN 75 004 274 882, AFSL 238096. ING Insurance is issued by Auto & General Insurance Company Limited (AGIC) ABN 42 111 586 353 AFSL Licence No 285571 as insurer. It is distributed by Auto & General Services Pty Ltd (AGS) ABN 61 003 617 909 AFSL 241411 and by ING as an Authorised Representative AR 1247634 of AGS. All applications for credit are subject to ING's credit approval criteria, and fees and charges apply. You should consider the relevant Product Disclosure Statement, Terms and Conditions, Fees and Limits Schedule, Financial Services Guide, Key Facts Sheet and Credit Guide available at ing.com.au when deciding whether to acquire, or to continue to hold, a product. Before interacting with us via our social media platforms, please take a minute to familiarise yourself with our Social Media User Terms https://www.ing.com.au/pdf/Social_Media_User_Terms.pdf.