Protecting your property investment with solid insurance policies

Any time you buy a home, whether it’s to live in immediately or stash away as a long-term investment, you’re making a big financial commitment. If you’re spending hundreds of thousands, or even millions, of dollars on a piece of property, you want to be sure that you’re spending wisely. Above all, what you want is peace of mind.

This is why there’s such a robust market for property insurance. When you spend a hefty amount of money on a home, you want to be protected against catastrophic events like floods and fires that could damage it. It’s worth making a small investment now to guard against potentially big problems later.

Australians love their home insurance

To get started with buying property, one thing you need is a home loan; another is insurance. A quick look at the market today reveals that people in Australia are generally very happy with the policies they have – a study from Roy Morgan Research revealed that 80.7 per cent of people are satisfied with their home insurance, up from 78.5 per cent in 2013.

It’s not hard to see why. Better insurance equates to better peace of mind – which means not only will you make better investments, but you’ll be happier doing it.

Assessing your risks and strategising

In order to get the best possible insurance policy for your home, you first have to have a solid understanding of what you’re protecting against. The Australian Securities and Investments Commission recommends that when choosing a policy, you think about the risks in your area and how they might affect your property.

Do you live in an area that’s vulnerable to flooding? What about bushfires? Consider the problems that have existed in your area historically and consider what impact they might have on your home, in terms of dollars and cents. Once you’ve done this, you can make smart decisions about what insurance is worth to you.

We have the resources to help

If you have a clear idea of what sort of insurance you need, we can help you get it. At Mortgage Choice, we have a team of mortgage brokers that understands every aspect of managing your property portfolio, and that includes obtaining insurance. Mortgage Choice also has the business partners who are experts or the like in insurance who can assist you.

Whether you’re looking to ensure your home and its contents, or even do something separate from your property portfolio such as arranging life insurance coverage, we have the resources to help you out either way.