With every knot, untangling it can be a frustrating experience but also a satisfying one. The same is true with insurance. The many insurance policies we have across multiple insurance providers can feel very much like a tangled knot. Insurance is definitely one of those knots that we should be untangling. Protecting ourselves, our loved ones and our valuables should not fall into the too-hard bucket. Here is how to quickly untangle your insurance in four simple steps.
To untangle a knot, we first have to see it. Look at all the different insurance policies you have. today. Use a tool like Quashed to make it simple and easily accessible. Or, if you prefer old-school, a pen and paper or a spreadsheet. Think about all the insurance covers you have e.g. car, home, landlord or renters, content, life, income, health, pet, travel, etc.
Identify the strings that make the knot. Make a quick list of what matters to you. It could be your income, your kids, your home, valuables, pet, etc. Nothing like taking a moment to reflect on what truly matters to you.
Now with Step 1 and 2 out of the way, you should be able to start to untangle the different strings. Do this by matching the insurance policies you have to your list of things that matter to you. This exercise should help prompt you to think about areas where you may not be covered, but should be. On the other hand, spot if you have insurance today that are covering things that are no longer yours or don't matter to you as much now that your circumstances may have changed.
This last step is crucial. Doing this will keep your insurance untangled. Leave it for long and the strings will start turning into a knot again.
Insurance is meant to protect us financially when it comes to the things that matter to us. Every year or when a major event happens (e.g. buying a property, having a kid, moving to a new job, etc.) is a good time to do a quick review to see that insurance cover is still right. The benefits of doing so can sometimes result in saving money. This can be in the hundreds or even in the thousands of dollars for some. That should be an incentive to spend a few minutes getting it right.
With Quashed, untangling your insurance knot and keeping it untangled can be a simple task. Lose the pen and paper, or even the spreadsheets. Bring it all online into your very own dashboard and easily stay on top of your insurance in a glance. Receive reminders when it is time to act on your covers. Peace of mind when it comes to insurance has never been easier.