Avoid financial double whammy while stocks are in the red

18 March 2020

For investors, the colour red will have been a familiar sight on most of your stocks over the past few weeks. Markets have come off its all time highs in dramatic fashion and have been on a roller coaster ride since.

While investments are uncertain, you can have some certainty by protecting your personal finances with having insurance covers in place. The worst thing that could happen is a double whammy if an unfortunate event were to occur and you find yourself without insurance and having an unexpected massive bill to pay for while your investments are down.

Avoid the double whammy

The first step to take with your insurance is to know what you have and how much you have. This can be done simply with our tool where we help you see all your insurance in one place! Most Kiwis we have spoken to cannot recall all the insurance covers they have nor how much they are covered for.

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Find out your total insurance portfolio cost

If you are using Quashed, we make it easy to not only see all your insurance in one place but find out how much you’re really spending. “Wow, I had no idea I was spending that much on my insurance.” is a common line we hear. Making sure your covers are up-to-date with the right information can sometimes mean paying less in premiums. Simple things like adjusting payments from weekly to yearly can result in savings of hundreds of dollars a year. Money that could be reinvested into the stocks if you think now is the time to pick them up while the prices have come off their highs. 

Remember your personal finances is more than just your investments. It is how you protect your lives, loved ones and valuables too. Check that you are covering your bases today. 

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