Cover your people, money, stuff

It’s time to protect what’s important to us: People in our lives, our present and future funds, what we own. There’s no point getting ahead if something’s going to come along and wipe it all out.

Start with the people in your life

“She’ll be right” – right? She might not. When others depend on us, we need to cover them so that if we’re not able to support them in the same way, they can still move forward.

Partners, children, parents: it’s about them. What would give us the most peace of mind? Knowing they’ll be okay even if something happened to us.

Wills

Wills help us provide for family members if we die, and state how we want to distribute what we own. Wills also let us specify someone we would like to look after our kids or to leave special gifts and meaningful things to people or organisations we choose. Dying without a will can cause a lot of unnecessary stress and cost for the people we leave behind.

How not to get stuck with the bill

When something unexpected happens, someone typically has to pay. It doesn’t have to be you. Protect the money you have now, and your future wealth, so it doesn’t wiped out by an unforeseen bill.

Third party insurance on a vehicle, for example, can make sure you’re not the one paying if you accidentally damage someone else’s car. Or contents insurance can cover you if there’s damage to the property you’re renting.

Third-party car insurance

Third party insurance covers damage to another person’s vehicle or property, but not ours.

Stuff? No worries.

House insurance, car insurance, contents insurance are all ways of protecting what we own. By letting an insurance company pool our risk with many others, we let them take care of it and keep things covered.

Home insurance

Insuring our home protects it against the risk of fire or other damage.

from sorted.org.nz Get sorted – Step 4

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